Infamous penny-stockbroker Jordan Belfort, better known as the Wolf of Wall Street, has reaffirmed his claim that initial coin offerings (ICOs) are the biggest scam ever. Earlier this year, he claimed that Bitcoin is a fraud.
ICOs have become popular to investors worldwide over the past year due to their high returns for early investors. Recently, signs have emerged that some ICOs might just be too good to be true.
It is funny that a man that have been convicted because of scam and money laundering talking about scams. Jordan Belfort a known scammer have a point, we all know that most of cryptocurrency ICO are scams but not all, there are lots of successful ICO from the past like Tezos, Filecoin, Bancor, EOS, Status, etc and there are still ICOs that are worth investing right now, you just have to make your own research about the company, their plans and the team behind it before investing your money. How about Initial Public Offerings (IPO)? there are also lots of IPO that scams their investors.