Investors have already given the answer to this question, since they choose IEO, then they want their investments to be safe and they are tired of scams, and ICO is one big problem at the moment, few people want such a hassle
Thats why the volume of ICO investment continues to decline every year, even this year is far lower than last year, because honestly
investors are tired when a project becomes a scam or fails to enter an exchange, ICO needs regulation so that only quality ico will come