Politicians’ memecoins, dropped court cases fuel crypto ‘crime supercycle’
Blockchain sleuths ZachXBT and Taylor Monahan say crypto scammers have been emboldened with US regulators dropping crypto-related court cases and politicians endorsing memecoins.
Memecoins promoted by political figures like Donald Trump, lax regulations, and crypto court cases abandoned by US regulators have kicked off a crypto “crime supercycle,” say a pair of blockchain crime investigators.
Blockchain investigator ZachXBT posted to X on Thursday that crypto has historically been ripe for abuse, but that has “noticeably increased since politicians launched memecoins and numerous court cases were dropped, further enabling the behavior.”
He claimed crypto influencers and key thought leaders face “zero repercussions” for scamming their followers.
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