This shows the problem with the unregulated casino of crypto

A President endorses Libra memecoin and $100M goes missing.

Interviewing one of Argentina's memecoin creators (Some swearing)
voidzilla
https://www.youtube.com/watch?v=EqizJTbxAEM

One of the creators says it himself.
Main way money is made on memecoins is effectively insider trading by insiders.
Thats just the way it works.

There is a market for insiders to sell information on early access to the coin so they can snipe it.
The coin managers also snipe their own coin using the excuse to outsnipe snipers, 
and everyone else stil loses.
The guy then asks CoffieeZilla for a solution, but the system is fundamentally broken.
I mean he is creating these things then he is asking everyone else to fix it.

The point is its like a Ponzi or Pyramid scheme in that most have to lose for a few insiders to win massively.

Best comment
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@Thanatos2k
56 minutes ago (edited)
I like how he straight up admits the "best people in crypto" haven't figured out how to launch a coin that isn't a scam and every time they try it just ends up rugging everyone.  He's so close to getting it - that these coins have no use and no value and just create a money pile for insiders to steal from - but he simply refuses to go down the road to its logical conclusion
""