"Made in USA" – it's a phrase that conjures up images of quality, craftsmanship, and good ol' American ingenuity. I start to feel a bit…skittish. Are we actually cheering on something good at its core, or are we being duped by some brilliant branding?

Let's be blunt. Just because a coin’s created here, doesn’t mean it’s inherently beneficial to America, or beneficial to Americans. Specifically you, Worldcoin, Pi Network, and Move-to-Earn. But these coins captured the public’s imagination in the third week of May. They were proudly trumpeted as “Made in USA” – and that alone should give you cause for concern.

Patriotism Or Just Good Marketing?

Is “Made in USA” in crypto a patriotic badge of honor or a bureaucratic smokescreen? Think about it. For generations, American manufacturing represented not only good-paying jobs but the production of concrete goods and an overall stimulation of our economy. Yet what does it mean in practical terms when applied to digital tokens created from nothing?

The real question we need to ask ourselves is this: Are these digital assets truly creating value for our society, or are they simply preying on the hopes and fears of ordinary people? Are we exporting innovation, or are we exporting risk in the name of innovation?

Biometrics, Hype, And Broken Trust

Let's dive into those three examples. Worldcoin (WLD) wants to establish a universal digital identity based on… eyeball scans. Biometric data. Is that where we’re heading with “Made in USA”?

We admit, the concept of a UBI delivered through crypto may sound a little utopian. Giving your iris scan to a company that can’t seem to keep your data secure? Already facing regulatory headwinds in places like Kenya and Indonesia? That sets off major alarm bells! It’s as if we’re exporting a technology that could be possibly exploitative to very vulnerable populations while wrapped up in this narrative of financial inclusion. Sign up to join the conversation on the ethics of collecting and using biometric data around the world. The question is whether it will have a positive long-term effect—an outcome that still isn’t guaranteed.

Ah, the dream of being able to mine crypto directly on your phone! So easy! So accessible! If it sounds too good to be true, that’s because it is. The issue with PI isn’t the technology per-se, but the marketing surrounding it. Most importantly, it relies on a TON of referrals, which leads to a pyramid scheme-like structure. Early adopters get the biggest benefits, but those who get in later stand to lose out.

That token unlock? That’s a sword of Damocles hanging over the entire project. All flooding the market with new tokens will accomplish is driving prices down. This would be particularly damaging to ordinary individuals who thought they were making a smart investment in the next great innovation.

Then there's Movement (MOVE). This coin's recovery attempt after scandals highlights a crucial aspect of the crypto world: trust. A scandal can destroy a project overnight. That’s why it’s so gratifying to see MOVE taking steps to recover with renewed vigor. This is a case that illustrates just how risky this bet can be. It highlights the need for transparency and accountability protections, which are sorely lacking in today’s decentralized crypto world.

Regulate, Don't Celebrate

These coins, even with their “Made in USA” label, exist in a rapidly growing, largely unregulated area. This Wild West environment is a magnet for scammers, hucksters and those who would sell you the moon while delivering only dust. I'm not saying all crypto is bad. This absence of meaningful oversight allows bad actors to continue to prey upon consumers. How these players prey on the most vulnerable and damage the entire industry’s reputation.

I’m as much a supporter of innovation as anyone, but it should not come at consumers’ expense of protection. At the same time, we need more rigorous rules to shield regular Americans from the obvious risks that come with the crypto space. And we need to demand transparency and accountability for equity outcomes from these projects—no matter where they’re “produced.”

The price fluctuations, the developments on our ecosystem, the speculation on exchange listings…it’s all just noise. The actual deplorable story is one of the magnitude of harm that can be done the exploitation of trust and the need for responsible innovation.

So, are these supposedly good-for-America “Made in USA” coins? The response, unfortunately, is a resounding heck no. We need to address the underlying regulatory, transparency and ethical concerns. Without that intent, the “Made in USA” label will continue to be an empty marketing ploy. We need to look beyond the hype and ask ourselves: who really benefits from this? And at what cost?