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Home News Memecoins

Nic Carter Predicts End of Memecoin Era Amid LIBRA Scandal Fallout

21 February 2025
in Memecoins, News
Reading Time: 3 mins read
105 4
source: protos.com

source: protos.com

Nic Carter, a partner at Castle Island Ventures, believes the memecoin era may end due to the recent $4 billion LIBRA scandal involving Argentine President Javier Milei, revealing significant corruption and manipulation in the memecoin sector.

In a recent post on X, Carter explained that memecoins were initially seen as a fair alternative to high FDV, VC-backed tokens, giving retail investors an equal opportunity to profit. However, he claims that recent launches, including LIBRA and celebrity-backed tokens from figures like Donald Trump and Hailey Welch, have revealed a system controlled by insider deals and automated trading.

“The casino wasn’t fair—it was rigged,”

Carter wrote, pointing to LIBRA’s rapid price surge as proof of manipulation. He warned that the memecoin market is now primarily influenced by prelaunch agreements and bot-driven trading, which marginalizes average investors. Although memecoins still exist, Carter believes their hype is dwindling, particularly with impending regulatory scrutiny. He predicts that law enforcement will start investigating insiders for potential securities violations.

Carter foresees a shift toward more structured token launches, lower valuations, and regulated crowdfunding platforms like Echo, which enforce KYC rules. He also expects growing momentum for crypto tokens designed to function more like equities, offering tangible financial returns.

The declining interest in memecoins is already evident in market data. Over the last month, the number of new tokens launched on Solana-based memecoin deployer Pump.fun has dropped 59%, according to Dune Analytics data from Adam Tehc.

Meanwhile, U.S SEC Commissioner Hester Peirce has recently stated that many memecoins may not fall under the SEC’s jurisdiction due to current laws, as their classification depends on specific circumstances. She highlighted that the rising popularity of memecoins presents broader regulatory concerns, indicating that Congress or the CFTC may need to clarify the classification and oversight of digital assets in the future.

 

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Tags: $LIBRAMemecoinNic Carter
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Jewel Buddy

Jewel Buddy

Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.

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