Chris Chung, CEO and co-founder of DEX aggregator Titan, has called for the crypto industry to establish ethical norms through social consensus, particularly in response to controversies involving political fundraising via meme coins and token launches.
What Happened: In an interview with Benzinga, Chung emphasized the importance of community-driven standards to maintain integrity in the rapidly evolving sector, while also sharing insights on the future of decentralized exchanges, stablecoin legislation and the role of blockchain in financial markets.
Addressing the ethical challenges facing the industry, Chung pointed to the backlash following the Libra fiasco as evidence of the crypto community’s ability to self-regulate.
“I think ethical considerations are social ones—if people react strongly against a certain thing, everybody really understands what the line is,” he said, highlighting the need for a collective understanding of acceptable practices in token launches and marketing.
He cautioned against relying solely on formal laws, noting, “Crypto enforcement is basically social enforcement—you actually need a government for physical enforcement of laws if you want to codify something more.”
Chung’s comments come amid a decline in retail investor confidence, driven by significant losses in meme coins like Trump (CRYPTO: TRUMP) and Melania (CRYPTO: MELANIA), which have contributed to a broader drop in trading volumes, as noted by research firms like Standard Chartered.
However, …
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