Crypto regulation must not prioritise memes over matter

The author is general partner at Andreessen Horowitz, where he leads the crypto fund, and is author of “Read Write Own” With crypto prices reaching all-time highs again recently, there’s a risk of too much speculation, especially given the buzz around memecoins. Why does the market keep repeating these cycles, instead of supporting the more productive blockchain-based innovations that will truly make a difference? Memecoins are crypto tokens used mostly for humour, born of joining an online community that’s in on the joke. You’ve probably heard of Dogecoin, based on the old doge meme featuring images of Shiba Inu dogs. It emerged as a loose community online when someone ironically added a cryptocurrency that later had some financial value. This kind of memecoin embodies various facets of internet culture and is mostly harmless. But my goal here is not to defend or to diminish memecoins. It’s to point out the absurdity of a regulatory regime in the US that lets meme-only tokens thrive —

The author is general partner at Andreessen Horowitz, where he leads the crypto fund, and is author of “Read Write Own” With crypto prices reaching all-time highs again recently, there’s a risk of too much speculation, especially given the buzz around memecoins. Why does the market keep repeating these cycles, instead of supporting the more productive blockchain-based innovations that will truly make a difference? Memecoins are crypto tokens used mostly for humour, born of joining an online community that’s in on the joke. You’ve probably heard of Dogecoin, based on the old doge meme featuring