Former Coinbase CTO Balaji Srinivasan: A memecoin is a zero-sum* lottery. There is no wealth creation. Every buy order is simply…

Former Coinbase CTO Balaji Srinivasan: A memecoin is a zero-sum* lottery. There is no wealth creation. Every buy order is simply matched by a sell order. And after an initial spike, the price eventually crashes and the last buyers lose everything. It’s actually negative sum if the platform takes a cut. — link : Wu Blockchain News

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