The crypto industry needs to believe in something again, says Joe Lubin, Kain Warwick, Paolo Ardoino and Scott Melker.
For crypto fans who came of age during earlier eras back when Bitcoin was going to bank the unbanked and stop all wars, or even during the ICO boom when tokenizing carbon credits and disrupting dentistry were touted as the future of finance the last couple of years have been incredibly depressing.
On the one side, some Bitcoiners who used to want to smash the unfair financial and banking system now cheer the worlds biggest banks and governments for gobbling up an increasing percentage of the supply.
And on the other side, theres the financial nihilism of memecoin trading, where nothing of value is built or created just a production line designed to extract as much cash as possible from retail. The vast majority of Pump.fun users, 99.6%, havent even made $10,000 on the site.
Ethereum creator Vitalik Buterin has always believed crypto can make the world a better place but seemed to have a crisis of faith back in February about where the industry was headed.
