Well, we have all these huge crypto rounds—a $300 million funding round, a $400 million funding round. Hundreds of millions, even billions, of dollars pouring into DeFi apps, web3 entertainment protocols—and even… Dogecoin applications? And, it’s tempting to get caught up in the hype. When you read these statistics, it’s difficult not to get swept up and think, “Holy cow, crypto is the future! But hold your horses for just a moment. Let’s ask a crucial question: is any of this actually helping Main Street? Or is it just another scheme for the rich to get richer?

Sentora closing $25 million, T-Rex reeling in $17 million before even getting out of the gate – terrific news. Sonic Labs winning $10 million to develop on Fantom? Fleek toasting at their new AI influencer deployment bonfire? DogeOS getting $6.9 million? In an ecosystem that’s a feeding frenzy of capital, fuelled by the promise of disrupting… well, everything.

Where’s the real value for you buried here? Perhaps you’re a working-class American, just trying to pay your bills, or a Main Street entrepreneur, just trying to weather the economic storm. One, are any of these companies actually creating new jobs outside of the Silicon Valley bubble. Are they having an impact on real-world use cases outside of the world of speculative trading and digital Pokemon cards. Or are they building complex sandcastles on a virtual shore? Or are they merely biding their time, waiting for the tide to come in and clean out the establishment?

The truth is that the crypto market, more than any other market, is vulnerable to emotional manipulation. A dangerous mix among investors, pumped by the fire of FOMO and the desire for fast wealth. The herd mentality can take down even the most level-headed people in this stampede. This isn’t meant to be a diatribe against the new innovation – human psychology has been an important factor in markets forever. Unlike other markets, the world of crypto trades largely without regulatory guardrails. Consequently, it is devoid of the investor protections meant to guarantee a level playing field.

Think about it. You dream of a system where T-Rex can reward users in crypto for simply reading or watching content. Sounds great, right? Get paid for scrolling through TikTok! What’s the long-term value of that crypto in that sense? Is it really sustainable, or is that just a smooth bribe to inflate the value of a circulation token? And don’t get us started on the privacy implications of their “proof-of-engagement” system … Would you be ready to exchange your personal information for a handful of crypto tokens?

This is where the anxiety comes in. The uncertainty. That nagging sense you have, that you are being pitched to buy the dream, that will become your nightmare. Many claim that DeFi has the potential to disrupt and greatly improve our current financial system. They think a web3 will democratize creativity, that DAOs will usher in a new democratic age. What if it's all just hype? I mean, what if only the VCs and founders are getting rich. In the end, someone else (aka, taxpayers) is always left holding the bag.

As someone who cares about building strong local communities, I think that’s the true measure of crypto’s success. It’s not even the size of the funding rounds that impresses. Are these corporations putting their dollars toward infrastructure improvement, education, or job creation in communities where it is needed the most? How are they collaborating with local businesses to provide innovative services or solve problems? Or are they just plundering these communities, giving back almost nothing in return?

This reminds me of the dot-com boom. Forget all that talk of the “creative class” ushering in a new economy in which everyone would be rich. But how many small towns have experienced real, lasting benefits from that era? Not many. Instead, wealth has become hugely concentrated in a handful of coastal cities, hollowing out the rest of the country in the process.

We can and should be demanding better from the crypto ecosystem. Now we need to hold these companies' feet to the fire to make sure they follow through on these promises. We should demand that they answer hard questions about their business practices and how those practices are playing out in the world.

So, what can you do? Don't just blindly follow the hype. Do your own research. Understand the risks involved. Never invest money you can’t afford to lose. And lastly, but probably most important, please, please, please demand transparency and accountability from the companies you’re funding.

Ultimately, the future success of crypto will be determined by its ability to provide real value to Main Street. Not vague assurances of future prosperity, but direct benefits felt immediately that change the trajectory of Americans’ lives. Let’s go past the hype and do the right thing to create a more equitable and sustainable future for all. Let's make wealth distributed not concentrated!

We need to demand more from the crypto industry. We need to hold these companies accountable for their promises. We need to ask tough questions about their business models and their impact on society.

What Can You Actually Do Now?

So, what can you do? Don't just blindly follow the hype. Do your own research. Understand the risks involved. Don't invest more than you can afford to lose. And most importantly, demand transparency and accountability from the companies you're supporting.

Here are a few actionable steps:

  • Due Diligence: Before investing in any crypto project, research the team, the technology, and the tokenomics. Read the whitepaper, but don't just take it at face value. Look for independent reviews and analysis.
  • Start Small: Don't put all your eggs in one basket. Start with a small investment and gradually increase it as you gain more confidence.
  • Community Engagement: Join online forums and communities related to the crypto projects you're interested in. Ask questions, share your concerns, and learn from other investors.
  • Demand Regulation: Contact your elected officials and let them know that you support responsible regulation of the crypto industry. We need rules of the road that protect consumers and promote innovation.

Ultimately, the success of crypto depends on its ability to deliver real value to Main Street. Not just promises of riches, but tangible benefits that improve people's lives. Let's move beyond the hype and focus on building a more equitable and sustainable future for everyone. Let's make wealth distributed not concentrated!