Redstone COO: Libra and other meme coins are a huge detriment to the entire crypto industry
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Odaily reported that Marcin Kazmierczak, the Chief Operating Officer of Redstone, said: "Meme coins like Libra are a huge detriment to the entire cryptocurrency industry. Hundreds of teams have invested resources to build unique projects with real applications, but their work has been overshadowed by these short-term, scam-driven games. Research shows that every dollar spent on gambling is a dollar taken away from long-term investment." He also said: "I think the market is becoming increasingly weary of these events - ironically, this may be a good thing, as people tire of the constant Rug, we may see more attention shift to fundamentally sound developments like DeFi, Crypto x AI, and SocialFi. I actually view memecoin as a stress test for the infrastructure we are building."
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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