99.99% of crypto are rug pulls. 99.99% of crypto companies don’t even need a token to accomplish what they want. They do it because they can raise money through a “currency “ which has no regulation.
Sec is right, most of these shit coins are security’s.
They do it because in order to issue a penny stock/ stock, they would need sec approval. Now they can issue a token without any approval.
Bitcoin made it possible for any company to issue a token without any regulation.
These shitcoins are pre mined, with all of them having one individual owning 30-70% of the supply. Will be great for bitcoin when they all disappear. Unfortunately so will your money.
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