I don't know if everyone has noticed, but in China, fundraising for Bitcoin and Ethereum tokens has not been punished, regardless of whether the token has been listed on an exchange. This has become the first pot of gold for many big players. In other words, as long as you have a bit of courage, or you have no moral pressure, it's like you're printing money... it's actually illegal fundraising, but because you're collecting tokens instead of RMB, there are no consequences!