He said that investors often jump into such tokens believing the hype, only to get burned, adding that the “money doesn’t come back,” and is effectively “stolen” from them.

He also pointed to other celebrity-backed cryptocurrencies, including a token launched by former New York City mayor Eric Adams and the $HAWK coin introduced by internet personality Haliey Welch, as additional examples of meme coins that have led to investor losses.

Gerber also criticized the Trump administration’s lax approach to crypto regulation, which he believes is making the market less attractive to everyday investors.

Crypto Slump Amid Broader Negativity

Gerber’s criticism comes as Bitcoin has fallen…

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