VanEck Advisor: Most cryptocurrencies look like securities, tokens are created to raise funds

Tether's strategy and VanEck advisor Gabor Gurbacs stated on the X platform that the creation of tokens is for raising funds/Bitcoin to provide funding for project/foundation/company operations, with the aim of creating value for token/shareholders. The regulatory authorities failed to formulate issuance and brokerage rules early, which gave scammers an opportunity.