[richardknop]

Oh no, this has been going on for about a year, with increasingly more ludicrous amounts of money when random people living in exotic countries with questionable jurisdiction are starting companies and without any product, just a whitepaper (so PDF file with some nice pie charts and buzzwords) raise tens of millions of USD in exchange for blockchain tokens which then get traded on exchanges where speculators further drive up their price.

It's becoming especially more concerning now that we have one man companies raising hundreds of millions of dollars in couple of hours/days. This can't end well.