[bonesss]

So I have a startup in France, and you think my FooBars will make a mint, so you invest. I get $1000 from you, and convert that to Euros to do business. Turns out my FooBars are not good, and I can't get a business license in France... so after a years effort we call it off, and you want your money back.

Assuming the euro gained 10% value in the interim, are you claiming as an investor before the investment vehicle was realized that you are rightfully owed $1100? Or the corollary, had the Euro tanked to 10% of value, would you accept $100 back without complaint?

I think you are conflating investment and ownership.

That grown value in Euros is value grown inside a corporation and either you own some of it, in which case you will get dividends, or you made an investment with some limited risk in which case it's your investment value that is relevant. I believe if someone lost your money without completing the terms of investment you would have legal recourse.

Had the ICO people given worthless ETH back they could have been sued for the difference, investment terms willing, IMO as a non-lawyer.