The golden age of crypto was from 2017 to 2021. This golden age essentially involved replicating traditional financial fundraising methods from scratch in crypto. From ICOs to IEOs to DeFi lending, there was nothing new. Back then, the programmers trading cryptocurrencies didn't understand these things either, mistaking them for innovation. Ultimately, fundraising boils down to who gets the funding? Traditional finance funds businesses. Crypto funds the speculative void. That's why it's no longer viable.