I don’t get the meme ”Project X is launching a token so the VCs can get liquidity”. Yes, a token provides liquidity eventually but:

1. Most teams and investors have a lock up. So by definition airdrop recipients are getting liquidity far before the team or investors. 

2. No one is forcing you to buy the asset. If you truly believe it’s a liquidity “scam” don’t participate. And if you get an airdrop, sell immediately.

3. The straw man that “other retail will get tricked into buying it” is intellectually dishonest. For the vast majority of cases, the people who lose money trading a token are speculators who know the rules of the game. It’s 2025, not 2017.

Another big disconnect between private and public perceptions are what the prevailing legal and accounting / tax advice.

Most people who have been deep in crypto for 5+ have no idea all the considerations / trade-offs behind launching a token.

And layer on the rapidly changing regulatory environment in 2025.

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

Agreed. Crypto folks have a huge blind spot about tax, even if they are reasonably aware of the AML and securities issues.

The legal surface area for launching a token in 2025 is wild. Most outsiders have no idea how much work goes into just staying compliant