Uphold CEO: Memecoin explosion is a disturbing trend that is "devaluing" cryptocurrencies

Odaily News In a recent interview with The Block, Uphold CEO Simon McLoughlin said he is optimistic about the long-term prospects of cryptocurrencies, but is frustrated by the "fraudulent nature" of some segments. He pointed out that 7,000 new memecoins are created every day, which is frustrating. Despite this, Uphold offers a product called "Meme Basket" that allows customers to invest in a selection of popular memecoins through its app, including tokens such as DOGE, FLOKI, PEPE, and BONK. (The Block)