I spent 25 years in tradfi as mentioned previously. I’m not delusional or a grifter/scammer.
You realize that some of the things listed on crypto markets actually represent more than just an entry in a distributed ledger, right? I live in Solana (a distributed ledger) world and there’s dozens of tokens which represent true products. Sure most are financial related themselves - but that’s no different than tradfi where banks and exchanges are themselves listed on the exchanges. Others are depin models and governance things for example. It’s a real industry which gets a bad rap since it does enable bad people to do bad things too, and that gets most the press.
First off, our securities regulation is ancient and much is based on a pre internet global world. There’s many changes that can be made to give consumers access to private equity and capital efficiency which currently the rich have guarded for themselves.
Secondly, there are far bigger and badder scams under the current regulation. Enron, worldcom, madoff, tyco, healthsouth, centennial, bre-x etc.
Bad people do bad things under either model, but the free, permissionless model sure opens the door to allow little guys to have a chance.
Raising capital for a small venture in a free global market is a tough nut to crack. And yeah thar be dragons there. But it’s such a freeing concept once you see it in action. I believe in freedom of money, and the global revolution it can bring.