Andresson Horowitz: “Memecoin craze a dangerous casino gamble”
Eddy Lazzarin, chief technology officer at US venture capital firm Andresson Horowitz, has likened the current meme coin craze to a “dangerous casino,” according to blockchain news outlet Cointelegraph. “Memecoin looks like a risky casino at best,” Lazzarin said, criticizing it as a distraction from the long-term vision of cryptocurrency. He added that Memecoin is not technically interesting and changes the way the public, regulators, and entrepreneurs view cryptocurrency.
In response, Eddie Lazarin was heavily criticized by the memcoin community, who pointed out that venture capitalists also funded investments in non-fungible tokens (NFTs), which caused the price to plummet. Meanwhile, the controversy over the memecoin craze stems from recent reports that hedge funds are jumping into memecoin investments in hopes of making huge profits.
