Listing an altcoin traps exchanges on ‘forever hamster wheel’ — River CEO
River Financial CEO Alex Leishman argues that once an exchange lists ETH and SOL, it “makes no sense” not to list related crypto tokens from their ecosystems.
When a cryptocurrency exchange lists its first altcoin, it sets itself up for an endless cycle of launching memecoins, warns a Bitcoin-only institution executive.
“The minute an exchange adds one non-Bitcoin token, they are signing up to be on the forever hamster wheel of memecoins,” River Financial CEO Alex Leishman said in a March 29 X post. “It makes no sense to list ETH if you don’t list the tokens issued on ETH, and the same goes for Solana,” Leishman said.
Leishman said while there are many “successful crypto casinos,” he has no interest in building one. River Financial is a Bitcoin-only financial institution focusing on buying and selling Bitcoin (BTC). Several companies have opted for the Bitcoin-only approach, including Swan Bitcoin, Bull Bitcoin, and decentralized exchange Bisq.
