Polymarket CEO Criticizes Crypto’s 100-Fold Token Bets

Polymarket founder and CEO Shayne Coplan criticized the pursuit of crypto tokens promising 100-fold gains, arguing that event contracts tie a trade to a defined outcome instead of a token’s potential price surge. Coplan made the remarks during a fireside chat with Balaji Srinivasan at TOKEN2049. The session ran from 9:30 p.m. to 10 p.m. ET Oct. 6 (1:30 to 2 a.m. UTC Oct. 7), corresponding to the morning of Oct. 7 in Singapore. He criticized a strategy of buying a token considered worthless while hoping to sell before it falls to zero. Coplan said Polymarket trades have “no exponential upside,” presenting them as a different kind of wager from chasing large token gains. Polymarket contracts are tied to whether a specified event occurs.

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