How do we feel about websites where ICOs pay for reviews? This is more complex than meets the eye.
When one of our networkers ran his bond firm they paid for research reports and it wasn't cheap: Goldman Sachs, Medley, Gartman. It's understood that these firms - big and small - ran trading books. So they're putting out buy and sell calls, with lengthy disclosures, and even when they're dead wrong (hint: they often are), it's all just caveat emptor: buyer beware. So why are people up in arms that ICOs pay real cash to write often glowing reports?
Part of what makes this so tricky is the laws are tougher in the US & more lax overseas.
Bottom line: if you're using a rating site, read the fine print. Find out how much coins are paying for their "grades". Understand the game & incentives.
At the end of the day: it all comes down to trust. Goldman Sachs has a phenomenal reputation. The ICO space is brand new. Hardly anyone has carved out a top-line reputation - yet. Our view: we're in favour of educated consumers. If you trust the source, go for it. If you don't, find alternatives sources. Get on a call with the CEO & ask tough questions. Nail them to the wall. Make your own research. It's your money.
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