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You're not wrong.

But those also aren't ponzi schemes offering 1000's of % APY based on convoluted multi-token staking schemes, minting, etc. that directly interact with money (as tokens) you send it, potentially breaking SEC rules because of what it means to be a money transmitter (low bar).

(Overall I'm talking about a bunch of tokens/dapps on Ethereum, not Ethereum itself, BTW.).




You also have MLM and Ponzis with cash, stocks (pump and dumps), diamonds, art, fine wine, gold and jewellery.

Anything of values get its share of fakes, even dev shops.




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