PANews reported on March 27th that Curve founder Michael Egorov, in a discussion with DeFi researchers Deebs DeFi and Ignas, stated that memecoin has "indoctrinated ordinary people with the idea that memecoin is cryptocurrency and can lead to quick wealth," resulting in a large number of retail investors being exploited. Genuine crypto projects focused on decentralization, permissionlessness, and censorship resistance have not benefited; instead, they have suffered negative trust consequences in the public eye, being labeled "scams" and "crimes." He believes the memecoin craze has exacerbated the public's cognitive bias of associating cryptocurrency with fraud and scandal.