Calacanis Blasts Memecoins as 'Giant Scam', Warns Investors of Total Loss
Jason Calacanis, a US investor and tech entrepreneur, has delivered a scathing criticism of memecoins, calling them a 'giant scam.' He emphasized that both memecoin and startup investments should be approached with caution, warning that individuals can lose their entire principal if they're not prepared for the risk.
Calacanis took to social media to distance himself from any involvement in memecoin projects, stating that he has 'nothing to do with any meme coins and never will.' He also warned against investment solicitations using his name or possible impersonation, advising against following investment instructions via social media or direct messages.
Calacanis' comments on memecoins are not the first time he has expressed skepticism about cryptocurrencies. Earlier this month, he described a rebound in Bitcoin's price as a 'dead cat bounce,' arguing that it is still not suitable for everyday payments or smart contracts even after 17 years since its launch.
His remarks have been seen as a message warning against speculation around memecoins and the risk of impersonation in the crypto market.