Avalanche CEO Warns for Cryptocurrencies: These Altcoin Projects Are Trash!

Avalanche (AVAX) founder Emin Gün Sirer said that the recent surge in popularity of cryptocurrencies is largely “trash.” In a social media post dated March 24, Emin Gün Sirer made remarks that drew attention to the cryptocurrency market. He pointed out that the previous bull market created “fraudsters” like Sam Bankman-Fried (SBF) and warned that this bull cycle may lead us to even more dangerous realities. Continuing his statements, Sirer criticized the recent surge in Ethereum Layer 2 (L2) projects, which have been described by him as hollow, cosmetic, and mismatched with the cryptocurrency philosophy. Implying that these projects are well-masked fraudulent organizations, Emin Gün Sirer noted that many of them behaved as improperly as SBF during the token issuance process. A Group of Sociopaths Trying to Replace SBF! Highlighting that such projects are far from offering real solutions to the real problems in the cryptocurrency sector and are driven […]

Avalanche CEO Warns for Cryptocurrencies: These Altcoin Projects Are Trash!

Avalanche (AVAX) founder Emin Gün Sirer said that the recent surge in popularity of cryptocurrencies is largely “trash.”

In a social media post dated March 24, Emin Gün Sirer made remarks that drew attention to the cryptocurrency market. He pointed out that the previous bull market created “fraudsters” like Sam Bankman-Fried (SBF) and warned that this bull cycle may lead us to even more dangerous realities.

Continuing his statements, Sirer criticized the recent surge in Ethereum Layer 2 (L2) projects, which have been described by him as hollow, cosmetic, and mismatched with the cryptocurrency philosophy.

Implying that these projects are well-masked fraudulent organizations, Emin Gün Sirer noted that many of them behaved as improperly as SBF during the token issuance process.

A Group of Sociopaths Trying to Replace SBF!

Highlighting that such projects are far from offering real solutions to the real problems in the cryptocurrency sector and are driven by market FOMO, Sirer suggested that this “trash L2” trend may consist of a group of new sociopaths trying to fill the void left by SBF:

So how can we prevent this noise? There is a simple test. Cryptocurrencies have only a few real obstacles at any given time. For example, in the last cycle, scalability and performance were the prominent issues and platforms like Avalanche and Solana offered two approaches to overcome these. Do these L2 projects provide real solutions? Because the trash L2 game is extremely easy and we may be facing a group of new sociopaths rushing to fill the void left by SBF.

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