In an interview with Yahoo Finance, Ripple creator and Stellar founder Jed McCaleb poured just a little cold water on current crypto hype.
“The allocation of capital and resources is wild to watch, when these projects that have zero technical merit get millions of dollars,” he said. “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.”