The best counter-argument to this that I’ve hears is that, in the year 2025, hardly anyone is confused about the nature of memecoins anymore. People know they are essentially buying lottery tickets when they buy a memecoin. And so long as the memecoin issuer is not hiding this fact, it should be allowed.
That may be true. People are free to gamble if they choose to. But is this something the President of the United States should be participating in? And what does he gain other than fiat? What does he lose? Is it worth it?
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