In fact its more like every unincorporated idea and general partnership and incorporated business all thrusted into visibility and publicly traded status all at once, right along side private equity backed corporations and ones that have actual institutional underwriters and IPO’d, issued and trading 24/7/365 with no circuit breakers or halts of any kind!

If the respected traditional market didnt have its layers of filtering via syndicates and the exchanges, it would look just as scammy

you can filter for stronger crypto projects, more consumers and investors simply need to, and crypto skeptics need to become more discerning to levy a more equivalent standard

I think the previously hostile regulatory environment has caused a lot of innovation, that is more resilient and useful for capital formation, new sectors, industries. the cryptosecurities market in 2012 was really ghetto, the ICO market in 2017 was baaaad but working around securities regulations since registration+liquidity was impossible. 2024’s pump.fun should be for entertainment only, but it does standardize the token issuances in ways that werent there before

the bad stuff should be ignored by consumers or cleaned up

but at the end of the day it will always be up to consumers and investors to be more discerning, for critics to criticize bad organizations individually instead of indict all of crypto when something goes wrong. the lack of discernment allows for most bad actors to act with impunity, and encourages the ones that do eventually face consequence