There is a non-zero chance that ICOs end up similar to how KOL rounds ended up.We had some big Ws early on.This led to everyone (myself included) FOMOing into hyped vaporware rounds.I lost high five-figures in KOL rounds that were delayed by a year or more, rugged, or simply went to zero.I think we are still sufficiently early to ICOs, but the deals will get worse going into 2026 as participation is becoming consensus now.And I'm starting to see similar patterns to those that made me and friends burn money ...

99% of KOL rounds are a waste of money, especially late in the cycle.Made money on a single one (thankfully that paid for all other investments), lost money or had countless delays on the other ones.Sometimes people are even trying to soft scam you.One very well known individual (I won't mention the name) approached me a few months ago to do a "last minute raise" with "limited spots available".He followed up 5 times and acted as if this was a great deal (I stayed away). Two weeks later his token hit the mar ...

I think the lesson from the timeline the last 24 hours is “KOL rounds” are extremely risky investment avenues and more times than not it’s more of a headache for both sides than a benefit to either.At least with angels you generally are limited to people who can help your business ...