Vitalik Buterin warns against political memecoins like TRUMP – Here’s why – BitRss

• Buterin warned that politician-backed cryptocurrencies could enable covert financial influence, posing risks to democracy
• The TRUMP ($34.54) memecoin’s 14% price drop sparked a debate on the meeting of politics, crypto, and market manipulation

The TRUMP memecoin saw a sharp 14% price drop within 24 hours following critical remarks from Vitalik Buterin.

Ethereum’s [ETH ($3,405.83)]  co-founder warned that politician-backed cryptocurrencies could be used for covert bribery.

They could enable politicians to passively grow their wealth and influence. His comments reignite past warnings about the dangers of voting for candidates solely based on their pro-crypto stance.

This has sparked debate among crypto users and investors alike.

Vitalik Buterin’s recent comments on the TRUMP memecoin launch have sparked controversy, particularly as the coin’s price plummeted 14% within 24 hours, at press time.