Balaji Srinivasan, former CTO of Coinbase and a general partner at Andreessen Horowitz, has criticized memecoins, describing them as a 'zero-sum lottery' with no real wealth creation. Srinivasan highlighted that every buy order for memecoins is matched by a sell order, leading to an eventual price crash where the last buyers lose everything. He noted that memecoins could be considered negative sum if the platform takes a cut. Srinivasan's comments come amid a surge in interest in memecoins, particularly those associated with Donald Trump and Melania Trump, which have reached a market cap of $10 billion. He contrasted memecoins with Bitcoin, emphasizing Bitcoin's utility and longevity as a blockchain asset with a hashrate of approximately 800 Th/s and a controlled issuance schedule. The frenzy around Trump-themed memecoins has led to a notable decline in the value of other memecoins like DOGE, SHIB, and BONK, with the broader memecoin market shrinking by 8% in the last 24 hours, and many top memecoins down by over 10%.