This Week on Crypto Twitter
Illustration by Mitchell Preffer for Decrypt

Anyone nostalgic for the long-gone heyday of random celebrities diving headfirst into crypto, rejoice! We appear to be back at that absolutely absurd part of the cycle.

In a Mad Lib-esque turn of events, this week kicked off with Caitlyn Jenner shilling a Solana meme coin named in an apparent attempt to aid Donald Trump’s presidential campaign.

The prospect of Jenner abruptly getting so involved in such a degenerate corner of the cryptosphere led many to doubt the post was legit—prompting the reality star to post a video confirming it all was real. 

From there, the plot only thickened. Apparently, the token’s launch was partially guided by a controversial crypto promoter named Sahil Arora. Within hours of the token’s launch, Jenner tweeted at a Decrypt reporter, claiming Arora had scammed her. 

Jenner told Decrypt that Arora went “radio silent” on her shortly after the token’s launch, in what she took to be a rug pull. Though Arora claimed at the time to have worked with several other celebrities on crypto projects, other public figures, including rapper Rich the Kid, took to Twitter to lambast the influencer as a scammer.

Soon, Jenner announced she had launched a new token by the same name on Ethereum. By this point, Crypto Twitter wasn’t having it. The original  token on Solana immediately crashed.

If only the inanity had ended there. In the midst of the Jenner saga, the rapper Iggy Azalea leaped into crypto discourse with a vague pro-crypto tweet.

Turns out, nothing’s a coincidence in this industry. Azalea soon revealed she had also been in contact with Sahil Arora about launching a meme coin. Until she determined that “he’s a bitch.”

Madness soon ensued, with Arora amassing hundreds of thousands of dollars in proceeds from a presale of a rogue, apparently unauthorized Azalea token, and Azalea launching her own token

The narrative got so convoluted that some theorized that the whole plot—controversy and all—was orchestrated by Arora from the beginning. 

Soon, Azalea became a darling of Crypto Twitter, attending Twitter Spaces and convincing many that she was entering the industry for the right reasons. 

At some point, it appeared sentiment may have turned on Azalea, after on-chain activity suggested some insider trading activity on her “Mother” token. 

But the “Mother” token has since become a smash hit. It boasts a $74 million market capitalization as of writing. 

Edited by Ryan Ozawa.

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