The Chief Investment Officer of Crypto Asset Management Firm BitWise says that the industry needs a new sales argument now losing Memecoins Mindshare.
In a new interview with Crypto -Influencer Scott Melker, Bitwise Cio Matt Hougan says that the Noord -Korean hacking group Lazarus is trying to launder funds from the Bybit Hack via Memecoin platform pump. Fun was not a good look for the asset class.
“The murderous piece there was that [Lazarus] tried to wash the money white …
I think that’s the kind of existential death of the craze of the meme coin games. If you have Melania and you have a scale and then it is used as a money laundering, even in this tolerant regulatory environment, people will not look favorably at North Hackers who find a way to be stolen [funds]. That is not going to do well, so I think there will be a real pressure on the Memecoin space. I think you have seen Solana withdrawing so much and led us a bit on this path.
Last week Lazarus Group stole almost $ 1.5 billion on Ethereum (ETH) and Lido Stusted Ether (Steth) from Bybit. According to Hougan, crypto investors now need a new story to collect around, possibly in decentralized finances (Defi) or Stablecoins.
“Apart from Bitcoin, the only real story that was a bit present for the past six months and felt easy [and] Was positive was the Memecoin story. The injected capital into the market, the injected energy on the market, and I think people who are currently running to zero effectively and as a result we need a different story outside of Bitcoin.
I think those stories exist, I think you can see green shoots in Defi (decentralized finances), I think you can see green shoots in the growth of the stablecoin, but they are not as present and as lively as meme = coins and I think the trio of Melania, Libra and Lazarus just means that the story is certainly. ”
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