In recent months, memecoins popularity surged within the crypto ecosystem. These assets had captured community attention with their origins rooted in beloved internet animal memes and shared interests among various crypto communities.

However, the frenzy surrounding these assets recently veered into unsettling territory as new memecoins bearing offensive names and symbols, including racial slurs, anti-Semitic references, and Nazi imagery, emerged.

Racist Memecoins Irks Crypto Community

This development sparked swift and severe backlash, drawing condemnation from the cryptocurrency community.

Camila Russo, a respected cryptocurrency journalist, expressed dismay at those purchasing these tokens in the present era. However, she acknowledged the freedom for anyone to create tokens on permissionless blockchains. Still, she stressed the importance of centralized platforms having the discretion to filter and delist such tokens.

Hayden Adams, the creator of Uniswap DEX, echoed similar sentiments, advocating for protocols to be able to block these abhorrent tokens.

“Protocols should be permissionless. But if you run a frontend with the ability to easily block these disgusting racist tokens, you should. I have no interest in serving or profiting off this trash,” Adams remarked.

Read More: 13 Best Solana (SOL) Wallets To Consider In March 2024

Due to these developments, DEX Screener, a DeFi token analytics platform, announced plans to reassess its token profile moderation policy.

“We won’t be the gatekeepers of what happens on-chain, but we’re definitely

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Author: Oluwapelumi Adejumo

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