I know it sucks to a NEO investor right now, but don't panic and sell! If you sell now, you will realize your loss.
NEO has a bright future, actually. In the mean time just keep your NEO in a proof of stake wallet and collect your GAS.
The Chinese brought down the hammer on ICOs because of so many Chinese investors getting screwed from pyramid schemes.
China will make it so that you have to prove that you are a legitimate operation. This is bullish for NEO because once the dust settles, scam coins won't clog up the NEO system and it will give legitimacy to crypto in general as it is being seen as such by the Chinese government.
People are so emotional with investing. Keep your cool and focus on other investments in the mean time. 