Memecoins are “undoubtedly damaged” CRYPTO AS MILEY crisis escalate, industry leaders – DL News

Memecoins are no longer funny.

What started as a monetized mashup virus and pop culture is now morphous Multi-billion dollars Fiaskoes This enriches insiders to investors’ detriment.

In the most recent scandal, Memecoin called the Mile Javier Miley, President Argentina, within $ 4.5 billion within an hour within the launch before crossing 80%.

Now Miley is facing calls to his confusion and multiple investigations.

And an increasing number of influential personalities crypto award.

“Memecoins undoubtedly damaged the industry reputation,” said Jill Gunter, co-founder of the Espresso system, covered with a network crossed DL News.

“I was more comfortable by explaining the silk path to my parents when I started interest in CRIPTO 2014. years than I explain Memecoins,” Gunter added, which was consulted by the International Monetary Fund and the World Bank on the CRIPTO initiative.

Damaged Brand

Even since the day Ross Ulbricht escaped his dark Web Emporium, Cripto is connected to money laundering and other illegal activities.

Now the landslide Memecoin – there are thousands of them – further desired for the Cripto brand.

“These shaded legitimate teams and projects build things, even in sales and paint the entire ecosystem as an extraction industry, people should be,” Eilon Aviv, partner in Israel’s WC company Collider DL News.

Memecoins drives the story crypt just like the property class is closer than ever to skip to mainstream.

In Washington, Trump Administration and Congress are ready to approve many years of measures that will finally give a 3.3 trillion dollar digital funding market “regulatory clarity.”

At Wall Street, several asset management giants are subject to follow Bitcoin and Etherm ETF’s deed with new Solana funds, KSRP and other Altcoyne.

‘It was awful too far.’

– Jill Gunter, Espresso Systems

And stablecoini, cryptural chicken dollar-enrolled, quickly integrate into the payment processing infrastructure.

So why are the members of the Congress Talk about Hawk TuahuA terrible memecoin, who in December captured the investor’s imagination in December as she stood in value, then increased 80% worth?

Soul

Since they are suddenly quite careful about cryptocurries without the value, suggesting Ron Hammond, a senior director of government relations for Blockain Association.

“There is a question whether it is useful for everyone and useful in the market as a whole,” Hammond said DL News.

It is ironic that Donald Trump, president who loves crypting, which launched this point in search of the souls.

Starting Trump Memecoin Days before his inauguration as president 20. January drew the immediate fire of crypto folk as Brazen Cash Grab. Then the first lady was accompanied by his own Memecoin.

Both offers initially emphasized at first, and then the roots as early drivers were redeemed.

What happens, Haiden Davis, General Manager of Kelsier who said He had a hand in starting Memecoin Melania Trump, was also involved in starting the scales.

Gunter, who cooned the open money initiative, research group, says the reputation threat of swelling since the token was associated with the Shiba Ina image that was in 2023. years began increasing in 2023. Years.

“A friend who is outside the Cripto message sent me about it,” she said. “Then I knew we had a problem.”

By 2024. years, Memecoins is industrialized as a suit such as pumps.fun gave “developers” with low-code platforms on Solana.

“Combined the schizophrenic generic type FOOMo aesthetic, with a really simple user experience to start the token,” Aviv said.

The platform allows everyone to turn their memecoin with several mouse clicks.

The creators can then set live video flow to attract attention – the lifetime of any Memecoina. Onus is then falling on the so-called pump.fun dev in to the token market.

The more inaudius flow, the more likely it is to attract the attention of traders. The results are shocked.

One Memecoin Creator named Beni, carrying a wig, a fake beard and black clothes, appeared on the spending under extracting in November.

He threatened to kill him if traders did not buy his token. Later that day, Benny seems to be committed suicide. DL News export If it was a fake stunt.

“This was unfortunately insufficient to turn off the industry,” Gunter said.

Pump.fun scale

Meanwhile, Celebrity C-List as are pop singer Jason Derulo and Kardashian Alum Caitlin Jenner It started to touch the pump.fun to cash into Mania Memecoin in 2024. Years. Both of their tokens were cut off 99% of their own species, according to Coingecko.

Gunter called the launch of the Internet Celebrity Haliei Velch Memecoin Halie, another moment in the water.

At the time of its launch in December, critics called Soknu Soknu pump and landfill – spreading to $ 500 million soon after debuting, before falling to $ 50 million only 30 minutes later.

For developers and many years of entrepreneurs, these pumps and landfills were very destructive.

And if Trump launch was Memecoin Crescendo, Miley’s Bangle try to finally signal the rotation of the tide.

“Grift is too far,” Gunter said. “Memecoins are pure extraction. This is not on board. This is just damage.”

Liam Kelly is a Berlin Reporter for DL News. You have the top? Send it by email at liam@dlnews.com.