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In a blog post published today, Ethereum co-founder Vitalik Buterin shared his thoughts on meme coins and their potential net-positive impact in the crypto space.
Buterin says that one of his “personal moral rules” is, “If there are people or groups that I dislike, I must willingly lead at least some of them to do the best job that meets my values.” He mentioned the following: He has zero enthusiasm for coins named after totalitarian political movements, scams, rug pulls, and other things that are exciting in N month but would upset anyone in N+Jan. ”
Meme coins have generated a lot of hype in recent months, and even in the past few years, with some in the space using racial slurs to criticize certain religious groups, He is expressing his disgust at the new wave of intentionally offensive meme coins. /11 and similarly negative content, including references to the Holocaust.
Despite the negativity and potential negative consequences associated with meme coins, such as racism and rug pull, Buterin also values ”people’s desire to have fun” and says, “cryptocurrency… I want space to somehow swim with this flow, rather than against it.” Through “high-quality, fun projects that positively contribute to the ecosystem and the world around it.”
“At the very least, there are more good meme coins than bad meme coins, and ideally meme coins that not only enrich insiders and creators, but also support public goods,” he explained, using charity coins. ) are dedicated to some type of philanthropy,” he cited as an example of potential overlap.
Buterin’s comments come after industry insiders recently expressed a general distaste for meme coins. For example, Ki Young Ju, founder and CEO of CryptoQuant, recently posted on It’s frustrating to see the team being overshadowed by a multi-billion dollar meme coin.”
At the same time, meme coins are once again attracting the attention of regulators, particularly the UK’s Financial Conduct Authority, which issued a warning earlier this week that so-called “finfluencers” on social media must be approved by an FCA-appointed authority. It was explained that. Please contact your representative before advertising or posting memes about financial products or services, including virtual currencies.
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© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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