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Cardano founder Charles Hoskinson shared his take on cryptocurrencies backed by venture capitalists and sarcastically named what he expects to become the “new next thing” in the crypto space.
Cardano founder: "The next new thing" in crypto
Hoskinson commented on an X post published by X user @cardano_whale, who spoke about VC chains and the “big unlocks” they perform surrounded by hype throughout 2024. He also mentioned “presidential coins.”
@cardano_whale has referred to it as “sophisticated CrimeFi” – a play on “criminal finance” or “crime finance.”
Hoskinson stated that he considers VC coins to be “so last cycle,” while CrimeFi is going to be “the new next thing.” “It takes zero knowledge to the next level!” he added.
Meme coin scandal echoes loudly
This post seems to be published in light of the recent scandal with the LIBRA coin, promoted by the president of Argentina Javier Milei. On Friday, he published an X post about that meme coin, saying that it will help small businesses and local startups. Owning to this, the coin soared and reached a $4.5 billion market cap quickly. But then he quickly deleted it once he faced accusations of promoting a scam.
According to analysts, a small group of investors who held the majority of that coin sold it immediately, pocketing more than $100 million. However, it seems that the LIBRA team has been paying out compensations; earlier today, Dave Portnoy received $5 million in USDC in compensation. He converted that amount into 27,688 SOL and deposited it to Kraken.
Milei is now accused of a crypto fraud, and Argentina lawmakers are calling for his impeachment.
Yuri MolchanDogecoin founder comments on celebrity coins
Dogecoin founder has also commented on this situation indirectly. Today, he slammed celebrity meme coins, saying: “There are 0 celebrity meme coins that would make any positive impact or value to anything.”
Samson Mow, a Bitcoin maximalist and JAN3 CEO, also commented on this development. He stated that he does not care about the details of the LIBRA situation. Mow tweeted that this kind of thing “will just keep happening again and again until everyone is Bitcoin only.”
Dan Burgin
Vladislav Sopov