The article discusses the recent trend of meme coins on the Solana blockchain and how they have been involved in scams and rug pulls. It highlights cases where influential figures such as the US president, the president of Argentina, and the president of the Central African Republic have scammed their own people with meme coins. Despite these events, the broader crypto market has remained largely unaffected. The article also reveals insider trading practices among influencers and key opinion leaders (KOLs) colluding with major crypto exchanges. It mentions the creator of these meme coins, Hayden Davis, who claimed to have been flown around by presidents and plotted rug pulls. The article suggests that decentralization is a myth in the crypto industry for the majority of cryptocurrencies. It praises Ethereum's creator, Vitalik Buterin, for his moral standards and dedication to decentralization and innovation, suggesting that the industry would be better off if more influential figures followed his example.



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