River CEO Has No Interest in Listing Altcoins out of Fear of ‘Forever Hamster Wheel of Memecoins’
The CEO of the Bitcoin (BTC)-focused change River says he has little interest in offering entry to something aside from the flagship crypto asset.
In a submit on the social media platform X, River CEO Alexander Leishman says crypto exchanges that checklist altcoins – which is sort of all of them – have turn out to be extra like casinos caught on a “without end hamster wheel of memecoins.”
“There are two paths for a crypto change/brokerage:
1. Bitcoin-only path – give attention to serving to individuals construct and protect long-term wealth by way of laborious cash. This path results in an change trying extra like a ‘financial institution’ long run.
2. Multi-asset buying and selling platform – add as many cash as potential and construct the enterprise mannequin round speculative buying and selling. This results in the change changing into extra like a on line casino.
Each can earn a living, however these are the one two choices. The minute an change provides one non-Bitcoin token, they’re signing as much as be on the without end hamster wheel of memecoins. It is unnecessary to checklist ETH for those who don’t checklist the tokens issued on ETH, and the identical goes for Solana.
There are a lot of profitable crypto casinos, however I’ve little interest in constructing such a enterprise. The on line casino enterprise mannequin is constructed round maximal extraction from clients, and the Bitcoin solely mannequin is targeted on serving to individuals construct long-term wealth.”
In keeping with River, foreign money debasement is vastly bigger than formally admitted, which explains the change is Bitcoin-focused.
“There’s a 275% hole between the inflation you’re informed and actual inflation.
This is the reason we Bitcoin.”
At time of writing, Bitcoin is buying and selling for $82,100.
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