Many confused markets unable to decide how to intepret the news

state of web3

Or…

More like state of Ethereum.

ETH-MAGA dumps hard

SOL-MAGA surges

Coincidence?

Well, hard not to notice many of the top Ethereum-focused projects having gone super woke with sex and race quotas (eg GitTips),

or getting super woke founders (e.g. Uniswap)

or doing increasingly woke-agenda things and using woke justifications (e.g. the switch to PoS)

Perhaps shouldn’t be a surprise, since so many of today’s major Ethereum organizations were selected by VCs in the 2017-2020 era, and the VCs pushed wokeness hard at every level.

Now that crypto VC is relatively dead, and memecoin funding on the rise, other chains won’t be facing that same level of wokeness selection pressure.

Is today’s ETH vs SOL MAGA price action a sign that Ethereum is now the woke chain?

Maybe.

Turns out this Jenner dude is far more of a scammer than we imagined

Launched 12 memecoins in the past 4 days,

putting in just $1k and then repeatedly rugging and draining for a total profit of $405k

And now he’s been caught

Absolute scammer

Jail. Men’s jail.

JAIL JENNER

Literal serial fraudster

Not even trying to act legit

JAIL. MEN’S JAIL.

Many $BOME-rich rugged by $JENNER

Probably they were right that JENNER had a good shot, being the first of its kind this cycle

What they didn’t count on, is Jenner being a serial fraudster.

JAIL JENNER

The category wasn’t going to last forever, but now Jenner’s serial fraud has killed it before it started

JAIL JENNER

Another celebrity:

Soulja Boy has launched his coin

Soulja Boy’s $SBOY

Created 4.5 hours ago

Quickly went to ~$4M

Finally announced 1.5 hours ago

Remains around $4M

Man one of these scammer celebrities should finally do a 24h, publicly-announced, fair launch.

But they won’t.

Even though it’d almost definitely be more profitable.

Scamminess even when the market is so ho that scaminess is not even the most profitable move.

All because deep down they have zero belief in crypto.

Just like Ryan Kennedy of Moolah, back in 2014.

tbf, no

holding 50% of the supply for themselves is also exactly what some of the highest-return memecoins ever did, e.g. BOME

real problem is lack of a 24h fair-launch