ICOs - The Original Sin of Crypto as a Financing Tool

Ether pre-mine or initial coin offering ICO was the original sin of crypto as a financing tool. Many people, particularly securities regulators, think it's good that startups usually can't raise money from the general public without at least a business plan. A lot of projects raised a lot of money by selling tokens that never turned out to be useful. The odds that any particular one of those non-business plans will ever succeed are low.