Libra Token Scandal Highlights Need For Stronger Risk Management

According to BlockBeats, on February 19, 21Shares' Head of Strategy, Ξliézer Ndinga, commented on social media that the Libra token scandal marks a pivotal peak in the meme coin craze, underscoring the necessity for more robust risk management measures on launchpad platforms. Ndinga emphasized the critical importance of global regulatory clarity, particularly concerning government officials launching their own meme coins. While permissionless innovation should be accessible to everyone, safeguards must be established to protect consumers and prevent fraud. For instance, automated systems could flag contract addresses previously involved in rug pulls, aiding investors in avoiding fraudulent activities.