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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 Pump.fun 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.
im officially the 2nd worse person to migrate from solana to eth
— Frank (@frankdegods) May 30, 2024
You wrecked your Solana token holders today. Wrecked us.
This is not protecting crypto. I never thought we would actually need Gary Gensler to step in and do something here.
— Wen Moon – MAKE $JENNER ON SOL GREAT AGAIN. (@WenMoonTok) May 30, 2024
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.
If you see any of these ‘celebs’ talking shit on Sahil, you best believe it’s also paid promo.
The man is operating on a different level.
4D Jeet chess. https://t.co/CUkH21J98Q
— Avery Bigweapon (@AveryBigweapon) May 28, 2024
Soon, Azalea became a darling of Crypto Twitter, attending Twitter Spaces and convincing many that she was entering the industry for the right reasons.
• said she pays people in crypto
• is aware she isnt as knowledgeable about the space but wants to learn
• thinks crypto is interesting & not going away, more to crypto than just trading
• memes are like internet culture & community, would be down to come to a conference https://t.co/GUnaxfw6S0
— Ansem 🐂🀄️ (@blknoiz06) May 29, 2024
At some point, it appeared sentiment may have turned on Azalea, after on-chain activity suggested some insider trading activity on her “Mother” token.
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.
— Beanie (@beaniemaxi) May 29, 2024
But the “Mother” token has since become a smash hit. It boasts a $74 million market capitalization as of writing.
Iggy Azalea’s $MOTHER is just not stopping 🤯📈🚀
Up 330% on the day to $69M and flying.
It’s now up 15x in the past 1.5 days.
Our new crypto mother may have just been anointed… pic.twitter.com/mdW2uMwuCX
— TylerD 🧙♂️ (@Tyler_Did_It) June 1, 2024
Edited by Ryan Ozawa.
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Source: https://decrypt.co/233386/this-week-on-crypto-twitter-celebrity-crypto-meme-coins
