In an apparent attempt to stay relevant and possibly find new ways to pay her bills, rapper Iggy Azalea has launched an extremely dubious cryptocurrency scheme to sell phones and data plans — in the year 2024, when the wind has largely gone out of the sails of blockchain tech.
"Tomorrow I’m finally relaunching the telecommunication company I co-founded and you will be able to purchase phones, or month to month cell plans using $MOTHER or Sol," AzaleaIf any of this is raising alarm bells for you at this point, you'd be forgiven. We've seen our fair share of dubious token launches over the years, including plenty of ", MOTHER doesn't promise investors a return or any future payouts.
The token was coined by Pump.Fun, a sketchy memecoin platform that allows practically anybody to launch tokens without any upfront liquidity. AccordingIn other words, it's not much more than a platform that sells questionable get-rich-quick crypto schemes in the form of celebrity-endorsed meme tokens.
Nobody knows where Azalea's dubious crypto scheme will go from here. While its valuation has risen from under $10 million to over $200, there are zero guarantees the entire thing won't implode like a house of cards at any moment.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Iggy Azalea’s anti-scam plan and crypto losses from hacks decline by 12%: Finance RedefinedPop star Iggy Azalea pledges to burn her own coins to combat crypto scams. Crypto losses from hacks and fraud declined by 12% in May, while the DeFi market remained strong. Read more on the latest DeFi developments and security measures.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »
New Iggy Azalea token has 'huge insider activity' — analytics firmBlockchain analytics platform Bubblemaps stated that the MOTHER team sold over 109 million tokens to an insider who later sold them into the market.
Source: Cointelegraph - 🏆 562. / 51 Read more »