Memecoins: A Symbol of Economic Protest?

The SEC's chokehold on the crypto industry is getting backlash from every corner. Internet personality Nic Carter didn't hold back when he jumped on a post by Omid Malekan, a Columbia Business School professor, who argued that the SEC's policies are driving people into meme coins.

People are hitting back at a Columbia Business School professor who claims that a potential Republican sweep will kill meme coins.

Omid Malekan had argued that meme coins, which are typically created as a joke and have no clear use case, are a form of "economic populism" that have risen up againstGensler/Warren regime's toxicity."

He added that a Republican sweep would bring back ICOs, global airdrops, and tokens with "sanity," which would lead to a shift away from meme coins.

However, some people in the crypto community aren't convinced by Malekan's analysis. Nic Carter had a simpler take, saying that meme coins are largely a reaction to the oppressive SEC regime, and if the SEC finds sanity, there will be less desire or need to trade meme coins.

Meme coin analyst Murad also pushed back, saying that 99% of memecoin buyers couldn't care less about politics or the SEC, and that the popularity of meme coins is more to do with the persistently rising Global Money Supply.

He added that most people buying meme coins don't even care about real projects with "legit revenues" or fee switches, and that if crypto shifted towards projects that mimic equity trading, it would actually kill a chunk of the market.

People are hitting back at a Columbia Business School professor who claims that a potential Republican sweep will kill meme coins.

Omid Malekan had argued that meme coins, which are typically created as a joke and have no clear use case, are a form of "economic populism" that have risen up against Gensler/Warren regime's toxicity."

He added that a Republican sweep would bring back ICOs, global airdrops, and tokens with "sanity," which would lead to a shift away from meme coins.

However, some people in the crypto community aren't convinced by Malekan's analysis. Nic Carter had a simpler take, saying that meme coins are largely a reaction to the oppressive SEC regime, and if the SEC finds sanity, there will be less desire or need to trade meme coins.

Meme coin analyst Murad also pushed back, saying that 99% of memecoin buyers couldn't care less about politics or the SEC, and that the popularity of meme coins is more to do with the persistently rising Global Money Supply.

He added that most people buying meme coins don't even care about real projects with "legit revenues" or fee switches, and that if crypto shifted towards projects that mimic equity trading, it would actually kill a chunk of the market.