Svmuu News: Ansem posted on X, stating that his past assessments of celebrities’ involvement in crypto projects were overly idealistic. He had previously assumed they would not “rug pull” millions of supporters, but reality has proven this assumption wrong. He added that he will not make the same mistake again in the future.
However, Ansem emphasized that he is not a celebrity and has no intention of engaging in improper exit strategies through his projects. He believes that meme and narrative-driven tokens can still play a “net positive” role in the crypto market, including attracting new users to the industry, providing speculative liquidity to the market, and reigniting market sentiment during the bottom of a bear market.
Citing Dogecoin and Bonk as examples, he noted that such assets have driven massive user adoption and wealth effects across different market cycles. Dogecoin’s market capitalization once reached $11 billion, while Bonk helped revive sentiment in the Solana ecosystem during the slump following the FTX collapse.
Ansem also noted that he entered the crypto industry in 2017, resigned from his job as a software engineer in 2021, and is currently a co-founder of the trading app BullpenFi and host of the podcast MarketBubble. He said he has participated in discussions about meme coins in the past but often encountered anonymous accounts that exploited liquidity structures to position themselves early and then “dump” their holdings, turning these coins into mere attention-grabbing tools. He emphasized that this is the first project in which he has participated while “holding control over the majority of the token supply,” and stated that he will strive to strike a balance between market attention and industry development.