In a recent interview with Yahoo Finance, Stellar’s Co-Founder and CTO, Jed McCaleb, referred to the Tron (TRX) project as ‘garbage’ when asked about his thoughts on the general temperature in the crypto industry. He particularly criticized projects that raised massive amounts of capital during the ICO boom of 2017/2018 with zero technical merit to back up such funding. His exact words were as follows:
The allocation of capital and resources is wild to watch, when these projects that have zero technical merit get millions of dollars. It seems like a big shame. Hopefully that will start to change. One of the nice things that comes with the market calming down—I still say it’s not a bear market—it means there’s less of that.