Quite recently, Charlie Lee, creator of Litecoin stated that the Initial Coin Offering (ICO) craze is out of control because people never learned their lesson with the DAO after everyone got bailed out. In a post on Twitter, the man who just resigned from Coinbase to concentrate on Litecoin declared ICOs are a disaster that is waiting to explode soon.
Under attack
ICOs have come under serious attack recently especially with accusations of scams. However, it remains one of the numerous clever innovations in the crypto space signifying how funds can be raised in a free market without the involvement of the state or banks. Besides, it eliminates the cost and burdensome barriers involved in traditional IPOs.
But maybe, after all, the ICO market just needs the government involvement?
Fears unfounded?
David Mondrus, founder of Trive, an entity using the Blockchain to kill fake news with crowdsourcing and crypto, believes it is the end of the monopoly that is Wall Street. He thinks Charlie Lee's fears are unfounded:
"A lot of people believe there is an impending disaster. I don't know Charlie's reasons specifically but I lived through the Dot-com crash. We survived that and we'll survive whatever this brings. But post Dot-com crash we got Google and Facebook."
https://cointelegraph.com/news/with-ico-coming-under-attack-market-participants-still-wary-of-govt-regulation