[ryanschaefer]

Some were, but then again Ethereum was an ICO as was XRP.

Again with DeFi, some were just Ponzi schemes (see SBFs infamous box token comments) but it also gave us Uniswap and Compound. These at least allow you to take directional bets on crypto so you can make money on its downfall.

> and they can't keep up with the rate of new scam technology that comes out of crypto.

There’s really been no innovation in scams recently. Just highly promote a smart contract token you can buy early on then dump it.

> but a lot of them are effectively ICOs under a different name.

They explicitly cannot promise to do anything economically productive with the offering because that fails the Howey test.