Bitwise's Head of Alpha Strategies, Jeff Park, has stated that memecoins may not always be considered illegal if they are considered commodities rather than securities, meaning investors cannot sue for insider trading. Park's comments come in the aftermath of the LIBRA debacle, where investors accused Kelsier Ventures of insider trading and market manipulation after the token's value plummeted. Park suggests that proving market manipulation or fraud would be necessary for investors to pursue legal action, rather than simply having information asymmetry. The legality of Kelsier's actions will ultimately be determined by a court of law.



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