Uphold CEO: The explosion of memecoins is a disturbing trend that will "devalue" cryptocurrencies

ChainCatcher news, according to The Block, Uphold CEO Simon McLoughlin stated in a recent interview with The Block that he is optimistic about the long-term prospects of cryptocurrency but is frustrated by the "fraudulent nature" of certain parts.

He pointed out that 7,000 new memecoins are created every day, which is frustrating. Nevertheless, Uphold offers a product called "Meme Basket" that allows customers to invest in a selection of popular memecoins through its app, including tokens like DOGE, FLOKI, PEPE, and BONK.