CryptoQuant CEO Apologizes and Changes View on Memecoins

user avatar

by Giorgi Kostiuk

2 years ago

CryptoQuant's CEO Ki Young Ju recently apologized for his earlier remarks about memecoins, acknowledging their social value.

Past Criticism of Memecoins

For a long time, Ki Young Ju believed memecoins were one of the most volatile investments in the cryptocurrency market. He shared a similar perspective with many others who warned against their speculative and high-risk nature. Critics included Binance’s CEO Changpeng Zhao and Ethereum co-founder Vitalik Buterin. Ju warned about the risks memecoins posed by overshadowing legitimate projects and hindering industry progress.

Apologies and Acknowledgement

The CEO of CryptoQuant issued a public apology on X (formerly Twitter) for his previous remarks about memecoins. He acknowledged that he had "misunderstood memecoins but now sees their value."

I’d like to publicly apologize to memecoiners. I misunderstood memecoins but now see their value. A good memecoin builds a community that creates social value.Ki Young Ju

Change of View on Memecoins

Ki Young Ju's change of heart came following events related to the launch of the TRUMP token. He stated that "meme coins are the spiritual energy of internet society." This statement prompted questions from the memecoin community about his change of view.

Ki Young Ju's apology highlighted the importance of memecoins in the crypto ecosystem and their social significance, even for those previously skeptical.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Project Eleven and Quantus Collaborate on Strongpoint for Future Crypto Custody

Project Eleven has partnered with Quantus to enhance crypto custody solutions through the integration of the Quantus Network into Strongpoint, targeting support for post-quantum cryptography by Q1 2027.

user avatarRajesh Kumar

Sui and Alibaba Cloud Collaborate on AI Agent Payment Integration

Sui and Alibaba Cloud are developing a payment model for AI agents to autonomously pay for cloud services using stablecoins.

user avatarLucas Weissmann

Moscow Exchange to Launch Cryptocurrency Trading on December 1

Moscow Exchange is set to begin offering cryptocurrency trading on December 1, 2023, following a new regulatory framework in Russia.

user avatarFilippo Romano

OSL Group Launches Tokenized USDGO Plus SP Fund

OSL Group has successfully tokenized the USDGO Plus SP fund, providing custody and distribution through its licensed platform in Hong Kong.

user avatarEmily Carter

PowerCompute Increases Bitcoin Production While Reducing Debt

PowerCompute mined 81 BTC in September 2023, a 37 BTC increase from last year, while reducing its secured debt from $237 million to $125 million.

user avatarKaterina Papadopoulou

NextBlock Fully Funds Soda Labs' Seed Round with $3 Million Investment

NextBlock has invested $3 million in Soda Labs, fully funding the company's seed round to develop privacy infrastructure for financial applications.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.