Telegram recently announced they are going to use a new Cryptocurrency in their App called TON (Telegram Open Network). While also noting that the development team is going to keep “at least 52 percent” of the number of coins.
This is almost the same as the parent company of the coin Ripple, Ripple Labs Inc. that owns 60% of the coins.
While there are lots of upsides and fascinating things about blockchain these schemes are certainly not what it was intended for.
Now starting an ICO is just another way of making fast-money instead of creating revolutionary new businesses.