Summary
TLDR: Amid memecoin mania, established players address proliferation of fly-by-night tokens. Polynya criticizes crypto’s “broken moral compass.” Vitalik Buterin sees value in memecoins for fun and charity. Li Jin sees memecoins as effective go to market strategy. BlobScriptions surge in popularity on Ethereum, leading to high fees. Dogwifhat becomes third-largest memecoin. Bored Ape allegedly owned by Kevin Hart sells for far less than purchased. Degen builds layer-3 chain using Arbitrum and Base. Munchables game on Blast suffers $62.5 million exploit.
Key Points
1. As memecoin mania deepens, crypto’s more-established players have begun addressing the proliferation of fly-by-night tokens head on.
2. The popular anonymous crypto blogger Polynya published a blog post decrying crypto’s “broken moral compass.”
3. Ethereum co-founder Vitalik Buterin weighed in on the matter, acknowledging the unsavory side of memecoin culture, but he values “people’s desire to have fun” and thinks memecoins can be an avenue for good.