Listing an altcoin traps exchanges on 'forever hamster wheel' — River CEO

Quick Summary:

Leishman claimed that multi-asset trading platforms prioritize short-term speculation over wealth accumulation:“The casino business model is built around maximal extraction from customers, and the Bitcoin-only model is focused on helping people build long-term wealth.” Critics have voiced this point before, even during the memecoin uptrend in early 2024.

In April 2024, A16z chief technology officer Eddy Lazzarin said that memecoins hamper the long-term vision of crypto that has kept so many of the original builders in the space.“At best, it looks like a risky casino,” Lazzarin said.

River Financial is a Bitcoin-only financial institution focusing on buying and selling Bitcoin (BTC).  Several companies have opted for the Bitcoin-only approach, including Swan Bitcoin, Bull Bitcoin, and decentralized exchange Bisq.

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Article Details

Author / Journalist: Cointelegraph by Ciaran Lyons

Category: Crypto

Markets: United States

Topics: Crypto Market 2024 Memecoins Leishman Exchange River Memecoin Financial Bitcoin-only Bitcoin

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-30 @ 04:03:27 (2 days ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 438 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 30 words per sentence (average)

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

Copyright Owner: © Coin Telegraph

News ID: 27422734

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About Coin Telegraph

Main Topics: Crypto

Official Website: cointelegraph.com

Update Frequency: 28 posts per day

Year Established: 2013

Headquarters: United States

News Last Updated: 7 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

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Publisher ID: #11

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