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Curve Founder: Memecoin Frenzy Exacerbates Public's Cognitive Bias Linking Crypto to Scams and Scandals
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On March 27, Curve founder Michael Egorov stated in a discussion with DeFi researchers Deebs DeFi and Ignas that memecoins have led "ordinary people to be indoctrinated that memecoins are cryptocurrency and can make them rich quickly." As a result, a large number of retail investors have been exploited, while truly decentralized, permissionless, and censorship-resistant crypto projects have not benefited. Instead, they have borne negative trust consequences in public opinion, such as being labeled "scams" and "crimes." He believes the memecoin craze has exacerbated the public's cognitive bias associating cryptocurrency with fraud and scandals.