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Meme Coin Mom Vs. Ethereum Dad: Did Iggy Azalea Just Shade Vitalik Buterin?

Published 07/06/2024, 11:40
Updated 07/06/2024, 13:10
© Reuters.  Meme Coin Mom Vs. Ethereum Dad: Did Iggy Azalea Just Shade Vitalik Buterin?
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Benzinga - Rapper and composer Iggy Azalea, who launched the MOTHER (CRYPTO: MOTHER) token on the Solana (CRYPTO: SOL) blockchain, recently took a jab at Ethereum (CRYPTO: ETH) co-founder Vitalik Buterin.

What Happened: Azalea posted a meme depicting herself holding a baby with Buterin's face, along with the caption, "he was just hangry (sic)."

This mockery came in response to Buterin’s critical remarks about the trend of celebrity meme coins, where he expressed his disapproval of the “financialization as a final product” premise driving many of these projects.

Commenting on Azalea’s post, Hayden Adams, CEO of Uniswap (CRYPTO: UNI) said, “No issues with memecoins or celebcoins – I think there's value to memetic attention and it's cool to create markets for it. That said, the underlying purpose and value of the tech goes way beyond financial games. And the best builders in the space are motivated by positive social change. Iggy could have responded positively and used profits to donate to a social cause or something. Instead, she condescends the best builder in the entire space, proving his point.”

Also Read: Bitcoin Could Reach $150K By Year-End If Trump Wins: Standard Chartered

Over the past week, the MOTHER token has experienced a dramatic surge, increasing in value by 1305.7% and reaching a market capitalization of over $200 million.

This significant growth highlights the ongoing fascination and investment in celebrity-backed cryptocurrencies despite skepticism from industry veterans like Buterin.

What’s Next: These developments and their implications for the broader digital asset market will be key discussion points at the upcoming Benzinga Future of Digital Assets event on Nov. 19.

Industry leaders and experts will delve into the evolving dynamics of cryptocurrency investments and the impact of celebrity endorsements in this rapidly changing landscape.

Read Next: Is Robinhood’s Crypto Exchange Deal Really ‘Massive’ And The ‘First Domino To Fall?’

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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