Hasu: 90% of Crypto Projects Shouldn't Issue a Token

By: theblockbeats.news|2025/12/11 10:45:58

BlockBeats News, December 11th, Flashbots Strategic Director and Lido Strategic Advisor Hasu wrote that "The worst thing is not that token holders don't care about the project, but those who think they know how to run a company and actively intervene as token holders. What is currently enraging is that many investors are now forcing start-up teams to conduct buybacks, pushing unverified incentive mechanisms, and proposing various governance ideas that would destroy the value of the start-up, resulting in a significant amount of value being destroyed."

"If I were to start a business in the crypto industry today, I would never suggest issuing tokens before being ready to 'go public.' Treat tokens as an IPO, and even then, try to maintain full control of the company by the founders. Almost every founder regrets issuing tokens today because they were initially carried forward by the seemingly 'cheap capital' wave, but now the cheap capital has bared its fangs and is backfiring."

"In the crypto industry, the drawbacks of 'publicization' and loss of control over one's finances are severely underestimated and understudied issues. 90% of crypto projects should not issue tokens."

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