The top five blockchain crowdsales bore out of the Bitcoin 2.0 movement have raised more than a quarter-of-a-billion dollars in “initial coin offerings,” “token sales” and the like. Participants contend the blockchain tokens are going “to the moon.” Others argue, since they’ve never been registered, they run afoul of securities law.The second largest crowdsale and best known, is Ethereum at $18,439,086. Ethereum developers say their blockchain is a distributed smart-contract platform “fueled” by a native digital currency similar to Bitcoin.