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The crypto space is making me understand why the SEC regulates stocks. Projects sell their tokens and people invest because they believe the project will take off so they expect their token will rise in value accordingly. (which is a strange assumption, tokens are not stocks)

Many of these projects are marketing-driven and frankly dumb. Prices fall and creators always say "We're focusing on building a great project, we're not focused on the token price."... Yet they're taking millions in investor money. The crypto space needs something like fiduciary duty towards token holders.

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