The ICO Is Back: Why 2025’s Token Boom Looks Both Familiar and Dangerous

Initial Coin Offerings (ICOs) are making a powerful comeback in 2025, evidenced by massive fundraising successes like MegaETH raising $50 million quickly, and major players like Jupiter launching new ICO platforms, and Kraken entering the space with MiCA-compliant sales.

This resurgence is fueled by the market's need for liquidity and potential regulatory shifts, such as the SEC dropping its lawsuit against Dragonchain, which might encourage more compliant token issuance models.

However, experts warn that history could repeat itself, noting that the new ICO era may favor institutional investors and whales, potentially leading to inflated expectations and systemic instability, echoing past extraction mechanisms. While figures like Arthur Hayes suggest fairly designed ICOs could rebalance power, investors are cautioned to view this wave critically, avoiding a "get-rich-quick" mentality.

(Source：BeInCrypto)