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Solana is Scammer Memecoin Hellarchive.is/yNpb1
367 sats \ 3 comments \ @StillStackinAfterAllTheseYears 24 Mar news
Good piece on Bloomberg (no paywall - link is to archive.is) on just how shitty and scammy the entire memecoin scene is. There are plenty of places in the shitcoin world where I genuinely believe people are well-intended but misguided, but here, there's nothing but crooks and scammers. And this is one of the "big five" that the US wants as a part of its reserve.
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121 sats \ 0 replies \ @Satosora 24 Mar
Its unbelievable what they talked about. I thought it was gling to be a bitcoin reserve, not a shitcoin reserve.
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21 sats \ 1 reply \ @SimpleStacker 24 Mar
Still, the controversy doesn’t seem to be clouding the outlook for memecoins. At the end of February, US Securities and Exchange Commission staff stated that memecoins are not considered securities. The SEC staff compared memecoins to collectibles, noting they have limited or no use or functionality and are often accompanied by statements about their risks and lack of utility. As a result, people who offer and sell memecoins do not need to register with the agency, and buyers are not protected by federal securities laws.
Interesting little legal tidbit there.
I might have felt sorry for shitcoin traders in 2021. But if you're still trading memecoins in 2025 I have no sympathy.
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30 sats \ 0 replies \ @StillStackinAfterAllTheseYears OP 24 Mar
Yeah, I get people getting sucked in during the earlier hype cycles, but when the platform's called something like pump.fun, it's hard to feel that the folks getting suckered and the ones suckering them are only separated by skill, not intent.
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