The founder of Coin Bureau: Clear regulatory rules will become a catalyst for the next bull market

ChainCatcher news, according to Jinshi reports, Nic Puckrin, the founder of The Coin Bureau, stated that current investor sentiment may have dropped to levels similar to or lower than those during the FTX collapse, with new meme coins and celebrity hype emerging daily.

Puckrin added that the profits from these trades rarely flow back into the crypto space. "These funds are not being used to develop innovative products that help solve real-world problems, which is exactly what we all believe crypto and blockchain can do." He estimates that $6 billion in crypto liquidity has already been lost from the ecosystem due to meme coins.

Meme coin trader Vic Laranja stated that meme coins are no longer about community, fairness, or opposing venture capitalists, but have evolved into an industrial complex aimed at extracting as much value as quickly as possible, which was not their original intent. Laranja mentioned that clear rules would be a catalyst for pushing the crypto space to the next level. Before that, he believes sentiment has already reached a trough.