Uphold CEO Simon McLoughlin said in a recent interview that he is optimistic about the long-term prospects of digital assets, but he is frustrated by the "fraudulent nature of some parts" of cryptocurrencies, especially the recent explosion of meme coins. The popular memecoin creation platform Pump.fun has amassed $100 million in cumulative revenue from more than a million memecoins created using the platform since its launch in January. "It's frustrating that we're now generating 7,000 new memecoins every day, and this artificial intelligence-driven memecoin creation... just demeans the whole field and destroys it," Simon McLoughlin said.