Circle's Arc chain faces market volatility following livestream

Circle's Arc chain experienced significant sell-offs in its ecosystem meme coins following a recent livestream that featured South Asian developers. The market reaction reflects deep-seated investor concerns regarding historical crypto scams linked to the region, such as BitConnect and GainBitcoin, as well as the recent WazirX hack. While the community reaction has been criticized as biased, it highlights the sensitivity of the current market to perceived risks.