Goldfish Bowls

To raise capital, some blockchain companies are now moving to restricted market platforms (e.g. Initial Exchange Offerings, IEOs).

IEOs allow companies to be listed on an exchange (e.g. Binance Launchpad), which address some of the issues around Initial Coin Offerings (e.g. fraud, legal issues), but restrict the total market opportunity and limit the healthy Darwinian ecosystem of the public markets.