UNCHAINED: Are Memecoins the Next Evolution of Wall Street Bets?

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CoinDesk

News, Tech News, Daily News, Business News

4.7 • 698 Ratings

🗓️ 14 June 2024

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Nathaniel Popper, author of The Trolls of Wall Street, talks about how Wall Street Bets and memecoins reflect broader societal changes, including the shifting status of men. Listen to the episode on Apple Podcasts, Spotify, Pods, Fountain, Podcast Addict, Pocket Casts, Castbox, Amazon Music, or on your favorite podcast platform. Nathaniel Popper just published his latest book, "The Trolls of Wall Street," covering the Wall Street Bets phenomenon. Funnily enough, his book comes at a time when there are striking similarities with the current memecoin mania in crypto. In this episode, Popper explores the rise of online investing communities like Wall Street Bets and their reflection of broader societal changes, particularly among young men. He also touches on the parallels between the trolling culture of these communities and the rise of figures like Donald Trump, and delves into the hidden dangers and psychological influences of memes in modern investing. Show highlights: The rise of online money communities and the shift towards investing based on ideas rather than traditional financial fundamentals How the changing roles of young men in society have influenced the growth of crypto and online financial communities How Robinhood's design choices changed retail investing, sparking FOMO and controversy by making trading as easy as a swipe The hidden dangers of memes in modern investing, and how they balance fostering community with driving speculation Why Trump's ties to the crypto community highlight the mix of serious intent and trolling Visit Unchained for breaking news, analysis, op-eds, articles to learn about crypto, and much more: unchainedcrypto.com Thank you to our sponsors! iTrustCapital Polkadot Guest Nathaniel Popper, author of The Trolls of Wall Street Links Previous coverage of Unchained on memecoins: Unchained: Why Memecoins Have Been 2024's Most Profitable Crypto Trade: Ansem and Kelxyz - Ep. 641 BRETT Becomes First Memecoin on Base to Reach $1 Billion in Market Cap DWF Labs to Invest in Memecoins, Onchain Data Reveals LADYS Transactions Celebrity Tokens Continue to Bleed With Some Memecoin Traders Losing Six-Figures The book: Blockworks: What do memecoins and meme stocks have in common?: A review of ‘The Trolls of Wall Street’ Fortune: Q&A with the author of ‘The Trolls of Wall Street’: Gambling, conspiracies, and the return of Roaring Kitty, Meme culture WSJ: Meme Stocks Are Back, but Fund Investors Moved On Meet the ‘Degen’ Traders Fueling the Latest Meme-Stock Mania CoinDesk: In Defense of Meme Coins What else could memecoins be? By Vitalik Buterin - Unchained Podcast is Produced by Laura Shin Media, LLC. Distributed by CoinDesk. Senior Producer is Michele Musso and Executive Producer is Jared Schwartz. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:49.7	Thanks for listening to Unchained, your no-hype resource for all things crypto, on the Coin Desk
0:54.9	Podcast Network. You can also listen to the episodes on the Unchained feed earlier if you subscribe there.
1:01.4	Plus, check out all our content on our website, Unchained Crypto.com.
1:06.6	You know, that guy behind Janet Yellen holding up that buy Bitcoin sign, right?
1:10.7	Like, he wrote it on a yellow, you know, on a legal pad.
1:15.0	And it was like a joke.
1:15.9	And yet, like, nothing got Bitcoin more attention than that.
1:19.6	And there's something about that in the attention economy of the internet where, like, the bigger the joke, the more attention, the more real it becomes.
1:30.0	Hi, everyone. Welcome to Unchained, your no hype resource for all things crypto. I'm your host,
1:34.4	Laura Shin, author of The Cryptopians. I started covering crypto nine years ago, and as the senior
1:39.5	editor of Forbes was the first matrimate reporter to cover cryptocurrency full-time. This is the June 14th,
1:44.8	2024 episode of Unchained, and I will just leave you all a quick note, which is that today is the
	...

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