{"id":126080,"date":"2025-03-30T03:16:25","date_gmt":"2025-03-30T03:16:25","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126080"},"modified":"2025-03-30T03:16:25","modified_gmt":"2025-03-30T03:16:25","slug":"listing-an-altcoin-traps-exchanges-on-forever-hamster-wheel-river-ceo","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126080","title":{"rendered":"Listing an altcoin traps exchanges on &#039;forever hamster wheel&#039; \u2014 River CEO"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsWhen a cryptocurrency exchange lists its first altcoin, it sets itself up for an endless cycle of launching memecoins, warns a Bitcoin-only institution executive.<br \/>\n\u201cThe minute an exchange adds one non-Bitcoin token, they are signing up to be on the forever hamster wheel of memecoins,\u201d River Financial CEO Alex Leishman said in a March 29 X post. \u201cIt makes no sense to list ETH if you don\u2019t list the tokens issued on ETH, and the same goes for Solana,\u201d Leishman said.<br \/>\nRiver has no interest in building a \u201csuccessful crypto casino\u201d<br \/>\nLeishman said while there are many \u201csuccessful crypto casinos,\u201d he has no interest in building one. River Financial is a Bitcoin-only financial institution focusing on buying and selling Bitcoin (BTC).\u00a0 Several companies have opted for the Bitcoin-only approach, including Swan Bitcoin, Bull Bitcoin, and decentralized exchange Bisq.<br \/>\nLeishman claimed that multi-asset trading platforms prioritize short-term speculation over wealth accumulation:<br \/>\n\u201cThe casino business model is built around maximal extraction from customers, and the Bitcoin-only model is focused on helping people build long-term wealth.\u201d\u00a0<br \/>\nCritics have voiced this point before, even during the memecoin uptrend in early 2024. In April 2024, A16z chief technology officer Eddy Lazzarin said that memecoins hamper the long-term vision of crypto that has kept so many of the original builders in the space.<br \/>\n\u201cAt best, it looks like a risky casino,\u201d Lazzarin said.<br \/>\nThe memecoin market cap is down 27.94% over the past 12 months. Source: CoinMarketCapThe overall memecoin market cap has taken a significant downturn since the beginning of 2025. Since Jan. 1, the memecoin market cap has slumped almost 49% to $48.49 billion at the time of publication, according to CoinMarketCap data.<br \/>\nHowever, while altcoins have historically been more volatile than Bitcoin, offering them alongside Bitcoin has been a lucrative move for crypto exchanges and brokers.\u00a0<br \/>\nRelated: Waiting for altcoin season? Data suggests it\u2019s already here<br \/>\nOn Feb. 12, Robinhood, which offers several cryptocurrencies to its customers, reported a 700% year-over-year surge in Q4 2024 cryptocurrency revenue.<br \/>\nSome traders seem to interpret a memecoin listing on an exchange as validation of its credibility. Among the 15 memecoins listed by crypto exchange Binance in 2024, 12 saw significant increases in value after going live on the exchange, pseudonymous onchain analyst Ai_9684xtpa said in November.<br \/>\nCoinGecko founder Bobby Ong recently speculated that the memecoin market might be headed toward an \u201cextreme case of power law,\u201d where 99.99% fail and a few rise to the top and endure.<br \/>\nMagazine: Arbitrum co-founder skeptical of move to based and native rollups: Steven Goldfeder<a href=\"https:\/\/cointelegraph.com\/news\/altcoin-listing-sets-off-hamster-wheel-memecoin-listings-river-financial-ceo?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsWhen a cryptocurrency exchange lists its first altcoin, it sets itself up for an endless cycle of launching memecoins, warns a Bitcoin-only institution executive. \u201cThe minute an exchange&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126080"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126080"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126080\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126080"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126080"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126080"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}