Cathie Wood, founder and chief executive of ARK Investment Management LLC, said in an interview that most of the so-called Meme coins in the cryptocurrency space could end up being "worthless". She noted that the combination of blockchain technology and artificial intelligence was giving rise to "millions" of Meme coins "that would not be very valuable", adding that her private fund did not invest in them.
"If I had one thing to say to people buying Meme, it would be: Buyers need to be careful," Ms Wood said. "There is nothing like losing money to learn a lesson that the Securities Exchange Commission (SEC) and other regulators will not be held accountable for these Meme coins." She added that Meme coins would become "digital collectibles", adding that some of them could "stand the test of time" and that the Trump-linked Meme coin might be one of them.
Wood reiterated her optimism about larger, more mature crypto assets, saying use cases for Bitcoin, Ethereum and Solana were "increasing rapidly" and would play an important role in the future.
Cathie Wood: Most Meme coins will eventually become "worthless", buyers need to be cautious
2025-03-18 23:10:32
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