Ethereum co-founder Vitalik Buterin on Thursday warned investors to stay away from some crypto projects. The move comes a few days after he sold some free shitcoins that he received in his wallet.
Vitalik Buterin a message in a subreddit named “Testingtesting62831” claiming that all crypto tokens or projects discussed in this forum are shitcoins. He warned that investing in these projects will probably make investors lose their money and recommends staying away from such forums.
“$BITE and most other coins being discussed on this forum are shitcoins, have no redeeming cultural or moral value, and will probably lose you most of the money you put into them. I anti-endorse these projects to the greatest extent.”
The subreddit has most discussions on $BITE and other low-value meme coins. Also, Vitalik has been against these coins and had sold these many times. Typically, small investors invest in these shitcoins and hope to make money out of them, but end up losing their money.
On March 7, Vitalik Buterin dumped multiple low-value meme coins in millions. He converted tokens including $MOPS, $CULT, $SHIK, and $BITE to Ethereum (ETH).
- ethereum
- Memecoin
- vitalik buterin
