Xangle Research conducted a survey that shows that a third (33%) of respondents say that the creators of the Initial Coin Offering (ICO) they invested in either deliberately deceived them or withheld key information. 17% of respondents said they did not know if they were deceived. The survey, which aimed to gauge investor sentiment after the 2017 ICO craze, also found that more than half of the 33% who answered yes believed that ICO project creators should be prosecuted.
Commenting on these findings, the research firm claims that these responses reveal a much larger problem with information transparency and asymmetry. Xangle Research adds that information asymmetry leads to confusion among investors about projects and the perception that they are being cheated on voluntarily about the information provided.
Meanwhile, the survey also revealed the opinions of respondents on what they think is holding back the crypto market, based on their personal investing experience. According to the survey, about 27.5% said the market was held back by a lack of awareness. 24% of respondents believe lack of regulation impedes trust and growth. The respondents then say that insecurity (20%), opacity (14.5%) and lack of use cases (12%) are significant factors holding back the crypto market.
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