Cathie Wood, CEO of Ark Invest, predicts that most memecoins will become worthless due to their reliance on celebrity hype.
Wood states that her company does not plan to invest in memecoins.
She warns investors that there is a high possibility of losing money with memecoins and that regulators, such as the SEC, will not take full accountability.
However, Wood remains bullish on Bitcoin, Solana, and Ether, stating that their use cases are expanding and will become important to society.