{"id":3514,"date":"2024-06-03T01:08:08","date_gmt":"2024-06-03T01:08:08","guid":{"rendered":"https:\/\/solanacrypto.news\/2024\/06\/03\/this-week-on-crypto-twitter-celebrities-dive-back-into-crypto\/"},"modified":"2024-06-03T01:08:08","modified_gmt":"2024-06-03T01:08:08","slug":"this-week-on-crypto-twitter-celebrities-dive-back-into-crypto","status":"publish","type":"post","link":"https:\/\/solanacrypto.news\/2024\/06\/03\/this-week-on-crypto-twitter-celebrities-dive-back-into-crypto\/","title":{"rendered":"This Week on Crypto Twitter: Celebrities Dive (Back) Into Crypto"},"content":{"rendered":"
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Illustration by Mitchell Preffer for Decrypt<\/figcaption><\/figure>\n

Anyone nostalgic for the long-gone heyday of random celebrities <\/span>diving headfirst<\/span><\/a> into crypto, rejoice! We appear to be back at that absolutely absurd part of the cycle.<\/span><\/p>\n

In a Mad Lib-esque turn of events, this week kicked off with Caitlyn Jenner shilling a Pump.fun Solana meme coin named in an apparent attempt to aid Donald Trump\u2019s presidential campaign.<\/span><\/p>\n

The prospect of Jenner abruptly getting so involved in such a degenerate corner of the cryptosphere led many to doubt the post was legit\u2014prompting the reality star to post a video confirming it all was real.\u00a0<\/span><\/p>\n

From there, the plot only thickened. Apparently, the token\u2019s launch was partially guided by a controversial crypto promoter named <\/span>Sahil Arora<\/span><\/a>. Within hours of the token\u2019s launch, Jenner tweeted at a <\/span>Decrypt<\/span><\/i> reporter, claiming Arora had scammed her.\u00a0<\/span><\/p>\n

Jenner <\/span>told <\/span>Decrypt<\/span><\/i><\/a> that Arora went \u201cradio silent\u201d on her shortly after the token\u2019s 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.<\/span><\/p>\n

Soon, Jenner announced she had launched a <\/span>new<\/span><\/i> token by the same name on Ethereum. By this point, Crypto Twitter wasn\u2019t having it. The original\u00a0 token on Solana immediately <\/span>crashed<\/span><\/a>.<\/span><\/p>\n

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im officially the 2nd worse person to migrate from solana to eth<\/p>\n

\u2014 Frank (@frankdegods) May 30, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n

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You wrecked your Solana token holders today. Wrecked us.<\/p>\n

This is not protecting crypto. I never thought we would actually need Gary Gensler to step in and do something here.<\/p>\n

\u2014 Wen Moon – MAKE $JENNER ON SOL GREAT AGAIN. (@WenMoonTok) May 30, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n

If only the inanity had ended there. In the midst of the Jenner saga, the rapper Iggy Azalea <\/span>leaped<\/span><\/a> into crypto discourse with a vague pro-crypto tweet.<\/span><\/p>\n

Turns out, nothing\u2019s 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 \u201che\u2019s a bitch.\u201d<\/span><\/p>\n

Madness soon ensued, with Arora amassing hundreds of thousands of dollars in proceeds from a presale of a rogue, apparently <\/span>unauthorized Azalea token<\/span><\/a>, and Azalea launching her <\/span>own token<\/span><\/a>.\u00a0<\/span><\/p>\n

The narrative got so convoluted that some theorized that the whole plot\u2014controversy and all\u2014was orchestrated by Arora from the beginning.\u00a0<\/span><\/p>\n

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If you see any of these \u2018celebs\u2019 talking shit on Sahil, you best believe it\u2019s also paid promo. <\/p>\n

The man is operating on a different level. <\/p>\n

4D Jeet chess. https:\/\/t.co\/CUkH21J98Q<\/a><\/p>\n

\u2014 Avery Bigweapon (@AveryBigweapon) May 28, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n

Soon, Azalea became a darling of Crypto Twitter, attending Twitter Spaces and convincing many that she was entering the industry for the right reasons.\u00a0<\/span><\/p>\n

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\u2022 said she pays people in crypto<\/p>\n

\u2022 is aware she isnt as knowledgeable about the space but wants to learn<\/p>\n

\u2022 thinks crypto is interesting & not going away, more to crypto than just trading<\/p>\n

\u2022 memes are like internet culture & community, would be down to come to a conference https:\/\/t.co\/GUnaxfw6S0<\/a><\/p>\n

\u2014 Ansem \ud83d\udc02\ud83c\udc04\ufe0f (@blknoiz06) May 29, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n

At some point, it appeared sentiment may have <\/span>turned on Azalea<\/span><\/a>, after on-chain activity suggested some insider trading activity on her \u201cMother\u201d token.\u00a0<\/span><\/p>\n

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So let me get this straight. Celebs stealth launch tokens. Snipe their own launches from multiple wallets. Then post about them for their fans as they start using them for exit liqudity almost immediately. Easy 8 figs if well executed. Maybe more for A listers. Crypto is a scam.<\/p>\n

\u2014 Beanie (@beaniemaxi) May 29, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n

But the “Mother” token has since become a smash hit. It boasts a <\/span>$74 million<\/span><\/a> market capitalization as of writing.\u00a0<\/span><\/p>\n

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Iggy Azalea’s $MOTHER<\/a> is just not stopping \ud83e\udd2f\ud83d\udcc8\ud83d\ude80<\/p>\n

Up 330% on the day to $69M and flying.<\/p>\n

It’s now up 15x in the past 1.5 days.<\/p>\n

Our new crypto mother may have just been anointed… pic.twitter.com\/mdW2uMwuCX<\/a><\/p>\n

\u2014 TylerD \ud83e\uddd9\u200d\u2642\ufe0f (@Tyler_Did_It) June 1, 2024<\/a><\/p>\n<\/blockquote>\n<\/div>\n

Edited by Ryan Ozawa<\/a>.<\/i><\/p>\n

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