- Ethereum‘s Buterin criticizes Pump.fun, likening it to FTX and Terra/Luna.
- Dogecoin developer warns of scams using Dogecoin’s name for shady token promotion.
- Both urge the crypto community to prioritize ethics, quality, and caution.
Vitalik Buterin has once again voiced concern over the direction of crypto innovation. This time he is calling out Pump.fun, a Solana-based meme coin generator.
Meanwhile, a Dogecoin Foundation developer known as Inevitable360 has issued a stark warning to the community. He warns about scammers exploiting Dogecoin’s popularity.
Crypto Veterans Urge Cleanup: Meme Coins and Tokens Under Fire
Vitalik Buterin’s statement comes during a time when meme coin projects are booming across multiple blockchains, particularly Solana. Pump.fun makes it easy for users to spin up new meme tokens. However, it has faced criticism for encouraging speculative behavior with no foundational purpose or roadmap. Buterin’s concern isn’t just about ethics. He believes these types of projects harm blockchain’s long-term credibility.
The Ethereum co-founder has repeatedly emphasized the need for “high-quality fun” in crypto. He advocates for experiments that are whimsical but also constructive. He argues that the community shouldn’t settle for chaos disguised as innovation. Additionally, there is a vast difference between lighthearted experimentation and outright irresponsibility.
On the other side of the crypto spectrum, Dogecoin’s Inevitable360 warned users to remain cautious as token scams surge. Unlike Dogecoin or Bitcoin, tokens often lack native infrastructure and can be created easily on top of existing chains. This has led to a flood of low-effort projects designed mainly to extract funds from unsuspecting users.
His warning is particularly aimed at influencers or community members who push these tokens under the guise of being “community-supported.” Inevitable360 urged users to research thoroughly. Moreover, they should avoid being swayed by promotions that don’t offer transparency, tech development, or long-term plans.
Both Vitalik Buterin and Inevitable360 highlight a growing need for responsibility and discernment in crypto. As the market matures, so should the standards we hold projects to.
“Just because something is popular doesn’t mean it’s good for the ecosystem.” — Vitalik Buterin
