Redstone COO: Libra and other meme coins are a huge detriment to the entire crypto industry

Odaily News Marcin Kazmierczak, COO of Redstone, said: "Meme coins such as Libra are a great detriment to the entire cryptocurrency industry. There are hundreds of teams investing resources to build unique projects with real applications, but their work is overshadowed by these short-term, scam-driven games. Studies show that every dollar spent on gambling is a dollar taken away from long-term investment." He also said: "I think the market is getting more and more tired of these events-ironically, this may be a good thing. As people get tired of the constant Rug, we may see more attention turned to fundamentally sound developments such as DeFi, Crypto x AI and SocialFi. I actually see memecoin as a stress test for the infrastructure we are building."