TL;DR
Sam Bankman-Fried’s 25-year prison sentence sparked the creation of some meme coins like “Sam Baseman Fraud (FTX).”
This phenomenon underscores the crypto community’s habit of launching meme coins tied to major news events, albeit with a cautionary note on their high volatility and investment risks.
Sam Bankman-Fried, the founder and former CEO of the notorious cryptocurrency exchange FTX, received a 25-year prison sentence earlier this week. He was found guilty of committing fraud and other criminal activities, which were among the reasons that led to the collapse of the company and the subsequent multi-billion dollar investor losses.
Interestingly, Judge Kaplan’s decision was followed by the emergence of a rather interesting meme coin, dubbed Sam Baseman-Fraud (FTX).
The asset’s price exploded by almost 5,000% after the ruling before plummeting significantly in the past few days. According to DexScreener, its market capitalization briefly surged to $1.5 million,
We współpracy z: https://cryptopotato.com/sbf-related-meme-coin-pumps-and-dumps-following-his-25-year-prison-sentence-details/
