In a candid discussion at the Paris Blockchain Week 2025, Eric Turner from Messari expressed that many recent memecoin launches were manipulated against investors. He noted that while these projects initially created a sense of community, they devolved into gambling, where the odds were heavily tilted against buyers.

Turner stated, “I really like the concept [of memecoins]. Early on, building a community made a lot of sense to me… But the dice were rigged.”

He acknowledged the cleansing of the market following various rug pulls and believes this will ultimately benefit the industry by refocusing on genuine innovation in cryptocurrency.

“But if the market wants it, then there is probably a right for it to exist”

Thomas Eichenberger from Sygnum Bank weighed in on the conversation, asserting that while he sees potential in blockchain tech beyond mere memecoins, their popularity suggests a demand that should not be ignored.

Turner elaborated on how this market maturation might propel the industry forward, emphasizing regulatory clarity and user education as key areas of focus. He believes that from failures come the lessons that build a stronger future for cryptocurrencies.