JRCryptex says most of web3 is nonsense

James Richmond aka JRCryptex is one of crypto’s sharpest, loudest truth-tellers. He lost a lot of money, slammed influencers, and now calls the space “full of snakes.” But he’s still here – not to hype coins, but to build something better.

Richmond told The Crypto Radio that his entry into crypto wasn’t planned or technical – it was impulsive. “I was buying coins if I like the color of them and if I like the name of it,” he said. That approach cost him more than $100,000, but it also kicked off a transformation.

Before web3, Richmond ran a recruitment business, starting his first company after just a month in the industry. “Whatever business I do, it always makes money every single time,” he said. That confidence – backed by years of building – would later fuel his return to crypto after the early losses.

His view of the space is blunt. “Behind a computer, a lot of them aren't doxed. You don't know where they live.” He describes web3 as chaotic, unregulated, and full of bad actors. But that hasn’t pushed him out – it’s made him more focused.

Slamming influencers and calling out hype

Much of Richmond’s criticism is directed at self-proclaimed experts. “Most of the space haven’t got any experience,” he said. “I say most of them are clinically insane.”

He’s especially critical of influencer culture. “The information that's being given by these retarded influences is basically what's making people lose money,” he said. Richmond recounted losing $100,000 from following crypto content on YouTube, which he now sees as a turning point.

“Seventeen-year-old KOLs… still living in their mom’s box bedroom,” he added. “And they’re now key opinion leaders trying to teach people about crypto.”

His frustration isn’t just personal – it’s structural. He believes new investors are being misled by social media content that prizes engagement over substance. The result is a space flooded with noise, not knowledge.

Fixing what the space gets wrong

Richmond isn’t just criticising web3 – he’s building in it. His current focus is Gaia Wallet, a crypto wallet designed to simplify how users interact with tokens, especially in the chaotic world of memecoins.

“Imagine you've got a wallet where you can trade memecoins, have a decentralized non-KYC card, and tap on Apple Pay,” he explained. Gaia aims to bring practical tools to everyday users while sidestepping the intrusive compliance features many wallets require.

Alongside Gaia, he’s also working on a web3 advisory and marketing agency, drawing from his background in recruitment and sales. His goal is to support founders without sugarcoating what works and what doesn’t.

Fail early, build better

Richmond is open about where things went wrong, believing failure has shaped him more than success. “You have to fail in life to be successful,” he said. “You can't be successful without failure.”

Rather than abandon crypto after his early losses, he stayed – and kept learning. “As long as I'm moving forward and learning every single day, then that's fine,” he said. His approach is unapologetically short-term: “Every single day, I just focus on today. If I focus on today and give it 110%, we're going to get to that goal.”

He doesn’t see money as the end goal, but as a tool for independence. “Money isn't everything, but it buys freedom and gives you the opportunity to do what you want to do in life,” he said. His ambition is clear: “What I want to do in crypto is make as much money as possible and retire early.”

Surviving the circus

While Richmond is cautious about making bold market calls, he did share one: “I believe we're going to see Bitcoin all-time high between August and December 25 this year.” Still, he’s quick to point out that no one can predict the market with certainty – and anyone who claims they can should be treated with suspicion.

For newcomers, his advice is blunt but practical: “Be sceptical. Don’t trust influencers. And don’t put in more than you’re willing to lose.”

Richmond’s journey offers a different kind of success story – one shaped not by early wins or technical brilliance, but by persistence, pattern recognition, and brutal honesty.

“You're always going to be chasing in life,” he said. For him, that chase now includes building tools that cut through hype and helping others avoid the mistakes he once made.

 

Listen to the whole interview on The Crypto Radio's live player or in My Crypto Journey podcast.