CandleFocus A crypto lawyer predicts a ‘dramatic increase’ in memecoin lawsuits
2024-10-18
Author: Content Editor
The article discusses the increase in cases involving clients losing money on memecoins, which are speculative investments. Max Burwick, a lawyer specializing in crypto cases, has seen a significant increase in such cases recently and expects this trend to continue. The rise of memecoins is driven by token launchpad pump.fun, which aims to prevent scams but does not guarantee investment success. Burwick believes that many memecoins may be considered securities under the Howey test, which could lead to legal trouble for issuers and promoters. The involvement of celebrities in memecoins may also attract legal scrutiny. The outcome of NFT-related court cases may provide insights into how courts will view memecoins.
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