Big news in the world of crypto! Coinbase's boss, Brian Armstrong, is warning about sneaky trading called insider trading. It's like cheating in a game, and it's against the law. It's especially happening with memecoins – funny internet coins.
- Some people made lots of money trading memecoins before others even knew about them.
- Many people lost lots of money because of this unfair trading.
- Mr. Armstrong says that this bad trading needs to stop.
- He hopes good memecoins can still be useful.
| Fact | Number |
|---|---|
| People who lost money on one memecoin called LIBRA | 86% |
| Total money lost on LIBRA | $251 million |
| Total money lost on political memecoins | Around $4 billion |
Mr. Armstrong thinks memecoins might become more than just a hype, maybe even helping artists and showing what's popular. But he really wants to stop the cheating and make sure crypto is used fairly.
