Ethereum (ETH<\/a>) founder Vitalik Buterin is concerned about the rise of \u201cpolitical coins,\u201d memecoins such as MELANIA and TRUMP.<\/p>\n Buterin says<\/a> the crypto sector has spent the past year entering \u201ca new order\u201d where people cheer on the idea of creating a token for anything at any scale.<\/p>\n \u201cAnd so now is the time to talk about the difference between sugar-high short-term fun that is unwise to recommend to newbies, and long-term fulfillment and wealth-building. It is not about \u2018fun is bad\u2019, it is about the equivalent of modern hyperaddictive cellphone games, versus chess or World of Warcraft.<\/em><\/p>\n 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.\u201d<\/em><\/p>\n US President Donald Trump and First Lady Melania Trump both launched controversial new memecoins in the past week.<\/p>\n The Ethereum founder says the public should prioritize \u201cthe brightest possible vector\u201d for the future of capital allocation mechanisms.<\/p>\n \u201cThe goal is not to indiscriminately accelerate everything, including superintelligent AI and fentanyl, the goal is to selectively accelerate defense so that it can keep up with offense. Sometimes, that defense is a matter of cultivating our own sense of virtue. Sometimes, that defense is a matter of creating better alternatives.<\/em><\/p>\n In DeFi, we are already starting to see a return toward honest token-based fundraising that gives users a clear understanding of what they are buying, bringing us the best of pre-2020-era Initial Coin Offerings while addressing their downsides.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>   Generated Image: Midjourney<\/em><\/span><\/p>\n<\/p><\/div>\n
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nFollow us on X<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\n
\n![](\"https:\/\/dailyhodl.com\/wp-content\/uploads\/2018\/06\/Get-Alerts-728x90.png\")
<\/center><\/p>\nDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.<\/h6>\n<\/div>\n