• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
Ethereum

‘Unhappy’: Ethereum Cofounder Blasts Celeb-Fueled Crypto Fads

Christian Encila
by Christian Encila
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Ethereum co-founder Vitalik Buterin has voiced worries about the spread of memecoins supported by celebrities, therefore criticising the most recent development in the field of cryptocurrencies.

His comments coincide with a period when several well-known, influencer-backed token initiatives have left investors cautious and the market in turmoil, therefore affecting the crypto sector.

Related Reading: Germans In The Dark On Digital Euro: Survey Reveals Confusion Over New Currency

Ethereum Cofounder Not Happy With Transient Crypto Trends

Buterin voiced his disapproval of the current trend of celebrities experimenting in the crypto space during a conference on Wednesday. He criticized these endeavors for frequently failing to meet the fundamental requirements of financialization and offering little more than transient financial gain.

Buterin stressed that these initiatives fell short of the full promise of blockchain technology, lacking substance and direction.

He brought up earlier projects like Mila Kunis and Ashton Kutcher’s “Stoner Cats” as illustrations of more noble undertakings, emphasizing that these collections had a creative and humanitarian bent.

He said, however, that the celebrity-backed companies of late had a tendency to climb swiftly and then disappear, leaving a trail of disappointed investors in their wake.

I’m feeling quite unhappy about with “this cycle’s celebrity experimentation” so far.

“Financialization as a means toward an end”, I can respect if the end is worthy (healthcare, open source software, art, etc). Financialization *as the final product*, 🤮

Ashton and Mila’s…

— vitalik.eth (@VitalikButerin) June 5, 2024

Celebrity-Backed Crypto Ventures

TV personality Caitlyn Jenner and artist Iggy Azalea are the most recent stars under close inspection. Jenner’s token, JENNER, started on May 28 and plunged into anarchy fast. Investors were first dubious, apprehensive of a possible social media hack on Jenner.

Jenner reassured her fans, nonetheless, of the token’s validity. Within a day, the value of the token dropped by more than 65%, causing indignation and claims of a rug pull—a situation whereby developers vanish with investor money leaving their tokens useless.

The MOTHER token was made public by Iggy Azalea following extensive marketing to her 7.6 million followers. Industry experts are already questioning its long-term viability, despite the fact that it hasn’t yet encountered a significant crisis.

ETH is now trading at $3,847. Chart: TradingView

Related Reading: Ethereum ETF Approval Timeline Uncertain, SEC Chair Warns

Growing Concerns Over Shady Tokens

Adding to the streak is the “FLOYD” token. After hyping it on social media, boxing world champion Floyd Mayweather abruptly deleted his promotional posts, sparking fears of another potential rug pull.

The Ethereum cofounder’s criticism is in line with the growing skepticism over the security of these ventures supported by celebrities. In his description of the qualities of reputable cryptocurrency initiatives, he emphasized the significance of promoting the common good, pursuing ethical objectives, and ensuring longevity.

Featured image from Chainalysis, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

DeepSeek AI Predicts $5 Target for XRP in 2025 – Here’s Why $BEST Could Be the Real Winner

DeepSeek AI Predicts $5 Target for XRP in 2025 – Here’s Why $BEST Could Be the Real Winner

18 minutes ago
Crypto, Crypto exchange, Bybit, stablecoin

Insufficient Stablecoin Supervision? Nobel Economics Laureate Warns Of Potential Financial Crisis

4 hours ago
Gemini

Crypto Exchange Gemini Sets Sights On $2.3 Billion Valuation As IPO Approaches

5 hours ago
fortune-crypto-chatgpt5-x1000

Faire fortune en crypto ? ChatGPT 5 relance le x1000

11 hours ago
acheter-token6900-avant-claim

Dernières 24h pour acheter TOKEN6900 avant le claim !

12 hours ago
El Salvador

El Salvador Breaks Ground With 1st Government Bitcoin Event

13 hours ago

Premium Sponsors

Press Releases

  • Top 5 Most Profitable ASIC Miners in 2025: ROI Comparison

    14 hours ago
  • Bitget to Transfer 440 Million BGB to Morph Foundation...

    15 hours ago
  • From Institutional to Individual Investors: How XRP and...

    15 hours ago
  • Despite XRP price fluctuations, Mint Miner lets holders...

    15 hours ago
  • CryptoMiningFirm Launches First XRP, BTC Mobile App: Earn...

    18 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.