Ethereum co-founder Vitalik Buterin posted a cautionary screed about TRUMP, political meme coins, and the current state of the crypto industry.

He noted that Gensler left a regulatory loophole in differentiating governance tokens from securities, which has ushered in a wave of bad actors.

Buterin vs TRUMP: Fighting for Crypto’s Future

Vitalik Buterin, the co-founder of Ethereum, has displayed a growing anxiety about TRUMP and other political meme coins. In a lengthy social media post, Buterin highlighted a long-form vision of the crypto industry, claiming that “we have been entering a new order” for the last year.

He noted that crypto’s institutional acceptance has allowed bad actors to flourish:

“Now is the time to talk about the fact that large-scale political coins cross a further line: they are not just sources of fun, whose harm is at most contained to mistakes made by voluntary participants, they are vehicles for unlimited political bribery, including from foreign nation states,” Buterin claimed.

For Buterin, the launch of TRUMP was a watershed moment. Nearly 94% of tokens are held by 40 wallets, and scammers have already stolen close to $1 billion, leveraging the hype around TRUMP and MELANIA.

Typically, US Presidents cannot conduct private business in office. Therefore, Trump’s meme coin has created huge concerns, even outside the crypto industry.

However, Buterin did not lay all the blame upon Trump or any other high-profile meme coin issuer. He noted that Go to Source to See Full Article
Author: Landon Manning

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