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Synthetix Founder: Meme Coin Craze Echoes ICO Bubble, But There’s a Twist


by Anisha Pandey
for CoinEdition
Meme Coins is ICO 2.0? Synthetix Founder Sounds the Alarm
  • Synthetic founder Kain Warwick compared the similarities between ICO craze and meme coin frenzy.
  • Warwick said that meme coins rose as a result of VC manipulation in the last market cycle.
  • Warwick claims that influencers have played a key role in pushing scam tokens this cycle.

Kain Warwick, the Australian founder of Synthetix and Infinex, said the current meme coin frenzy reminds him of the initial coin offering (ICO) craze of 2017-2018. In a detailed post on X (formerly Twitter), the crypto entrepreneur talked about how similar the two events are, trying to get investors’ attention about market conditions. 

Meme Coins & ICOs: Born from Market Flaws?

Warwick pointed out that both trends, meme tokens and ICOs, came about because of structural inefficiencies in the industry—ICOs did well because of the high barriers of traditional fundraising, while meme coin…

The post Synthetix Founder: Meme Coin Craze Echoes ICO Bubble, But There’s a Twist appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Only 21% Chance Pengu Will Hit $0.05 by November: Will Traders Be Wrong?

Only 21% Chance Pengu Will Hit $0.05 by November: Will Traders Be Wrong?

As of October 20, Polymarket traders have shown decreasing optimism about Pengu’s pri...
Elon Musk Triggers Another Meme Coin Rally

Elon Musk Triggers Another Meme Coin Rally

Elon Musk caused FLOKI to rally after posting a new video on social media. Demonstrat...

Synthetix Founder: Meme Coin Craze Echoes ICO Bubble, But There’s a Twist


by Anisha Pandey
for CoinEdition
Meme Coins is ICO 2.0? Synthetix Founder Sounds the Alarm
  • Synthetic founder Kain Warwick compared the similarities between ICO craze and meme coin frenzy.
  • Warwick said that meme coins rose as a result of VC manipulation in the last market cycle.
  • Warwick claims that influencers have played a key role in pushing scam tokens this cycle.

Kain Warwick, the Australian founder of Synthetix and Infinex, said the current meme coin frenzy reminds him of the initial coin offering (ICO) craze of 2017-2018. In a detailed post on X (formerly Twitter), the crypto entrepreneur talked about how similar the two events are, trying to get investors’ attention about market conditions. 

Meme Coins & ICOs: Born from Market Flaws?

Warwick pointed out that both trends, meme tokens and ICOs, came about because of structural inefficiencies in the industry—ICOs did well because of the high barriers of traditional fundraising, while meme coin…

The post Synthetix Founder: Meme Coin Craze Echoes ICO Bubble, But There’s a Twist appeared first on Coin Edition.

Read the article at CoinEdition

Read More

Only 21% Chance Pengu Will Hit $0.05 by November: Will Traders Be Wrong?

Only 21% Chance Pengu Will Hit $0.05 by November: Will Traders Be Wrong?

As of October 20, Polymarket traders have shown decreasing optimism about Pengu’s pri...
Elon Musk Triggers Another Meme Coin Rally

Elon Musk Triggers Another Meme Coin Rally

Elon Musk caused FLOKI to rally after posting a new video on social media. Demonstrat...