Ethereum Founder Vitalik Criticizes Celebrity Coin Craze I Am Quite Displeased So Far

According to a previous report by Zombit, many celebrities have leveraged their influence to launch tokens over the past week. While some tokens, such as MOTHER issued by American celebrity Iggy Azalea, have successfully surged to a market value of over one billion, the vast majority have ended in failure. This chaos has sparked heated discussions in the cryptocurrency industry.

In response, Ethereum founder Vitalik Buterin also commented on this on X. Vitalik expressed his dissatisfaction with the “celebrity coin issuance experiment” cycle:

Regarding celebrities entering the cryptocurrency field, Vitalik also offered several suggestions in hopes that such influence can be used in the right way. First, celebrity-driven cryptocurrency projects must serve the public interest as their service goal, rather than just enriching the celebrities themselves and early adopters. This could be through art projects, celebrity-supported charities, or both.

Furthermore, these projects need to have some interesting mechanisms beyond simply being “tradeable tokens” (such as decentralized governance) and create something that can last for over 10 years, rather than just a fleeting moment within a few months. Lastly, Vitalik stated: