Degen

Nic Carter, a partner at Castle Island Ventures, has declared that the era of meme coins is over after the $4 billion Libra scandal.

He noted that insiders in the market will soon face legal consequences, stressing that the records of suspicious transactions on the blockchain are irretrievable.

Carter said that meme coins were initially introduced as a level playing field for retail investors, pointing to the Libra coin, which reached a value of $4 billion in minutes, showing that the market was engineered to benefit its operators.

Ki Young Ju, CEO of CryptoQuant, also predicted that the meme coin market would enter a period of disillusionment.