Cardano founder: “The next new thing” in crypto

Charles Hoskinson, the founder of Cardano, shared his views on cryptocurrencies influenced by venture capitalists and satirically dubbed what he anticipates to become the “new next thing” in the crypto space.

Hoskinson responded to a post by X user @cardano_whale, who discussed VC chains and the “big unlocks” they make amidst the hype expected throughout 2024. The user also introduced the concept of “presidential coins.”

@cardano_whale referred to this development as “sophisticated CrimeFi,” a play on terms related to “criminal finance.”

According to Hoskinson, VC-backed coins are outdated and he believes CrimeFi is set to be the future. He remarked, “It takes zero knowledge to the next level!”

> VC coins are so last cycle. CrimeFi is the new next thing. It takes zero knowledge to the next level! https://t.co/ITUzcp01Rg
> — Charles Hoskinson (@IOHK_Charles) February 18, 2025

Meme coin scandal echoes loudly

This commentary follows the recent issues surrounding the LIBRA coin, promoted by Argentine President Javier Milei. On Friday, he made a post about the meme coin, claiming it would benefit small businesses and local startups. Consequently, the coin skyrocketed, achieving a $4.5 billion market cap, but was shortly deleted after accusations of it being a scam.

Analysts highlight that a small group of investors sold the majority of the coin, reaping over $100 million in profit. Meanwhile, it appears that the LIBRA team has begun distributing compensation; for instance, Dave Portnoy received $5 million in USDC, which he converted into 27,688 SOL and deposited to Kraken.

Milei now faces allegations of crypto fraud, prompting Argentine lawmakers to call for his impeachment.

Dogecoin founder comments on celebrity coins

In relation to the situation, the founder of Dogecoin also weighed in indirectly, criticizing celebrity meme coins. He stated, “There are 0 celebrity meme coins that would make any positive impact or value to anything.”

Bitcoin maximalist and CEO of JAN3, Samson Mow, commented on the LIBRA situation, stating his indifference towards the intricacies surrounding it. Mow tweeted that such occurrences will continue until everyone focuses solely on Bitcoin.

> I don’t really care about the $LIBRA details like who sniped what and which insiders had allocations because this shit will just keep happening again and again until everyone is #Bitcoin only.
> — Samson Mow (@Excellion) February 18, 2025