I hear about large funds out there helping coordinate ICO raises, setting terms and stages for the raise, and obtaining information from the company that they know retail investors don't have. It's basically begging for the SEC to come down like the hand of God once they decide your token is a security. Which it is.

So I wrote a post about it, and would love to hear some ideas on why I might be wrong.

https://hackernoon.com/investor-liability-for-icos-could-be-downturn-catalyst-e902ffdb9eeb