Cathie Wood Warns of Meme Coins' Potential Worthlessness

According to Foresight News, ARK Investment Management LLC's founder and CEO, Cathie Wood, expressed concerns about the future value of most meme coins in the cryptocurrency sector. In an interview, Wood highlighted that the combination of blockchain technology and artificial intelligence is leading to the creation of millions of meme coins, which she believes will not hold significant value. She emphasized that her private fund has not invested in these tokens. Wood advised caution to those purchasing meme coins, stating that losing money is often the best lesson for investors. She noted that the U.S. Securities and Exchange Commission (SEC) and other regulatory bodies will not be responsible for these meme coins. Despite her skepticism, Wood acknowledged that meme coins could become digital collectibles, with some potentially enduring over time, including those related to U.S. President Donald Trump. Wood reiterated her optimistic outlook on larger and more established cryptocurrencies. She pointed out that the use cases for Bitcoin, Ethereum, and Solana are rapidly expanding and will play a significant role in the future.