Balaji Blasts Memecoins, Calling Them 'Zero-Sum Lottery’ as TRUMP Token Sends Market In Frenzy

Quick Summary:

The former CTO of Coinbase and general partner at venture capital firm Andreessen Horowitz said in a thread on X that memecoins aren’t wealth creation.

Many of the top memecoins like DOGE, SHIB, and BONK are down by over 10% on-day.

And we’ve seen examples of that as well.

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Article Details

Author / Journalist: Sam Reynolds

Category: Crypto

Markets: United StatesCuba

Topics: Markets Memecoin Trump Balaji Srinivasan

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-20 @ 03:57:13 (15 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 288 words

Reading Time: 2 minutes read

Sentences: 23 lines

Sentence Length: 13 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 25273631

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