Former NYC Mayor Eric Adams launched a token to combat antisemitism and promote blockchain education. The token surged to a market cap of approximately $580-600 ...
Why are all these politicians so interested in Crypto?
One can only wonder.
Analysis shows that a wallet linked to the token’s deployer removed approximately $2.43 million in USDC liquidity shortly after the peak.
Yeah so this is classic rug pull. Hype, get it into retail, have automated buy in, pull liquidity. Maybe put it back a bit and pocket the fees for retail going crazy.
I read somewhere on here someone say “people wouldn’t have enough time to get scammed.” A lot of this is all bots buying, including small time players who are just using something like Freqtrade python scripts for buying and selling. No one is doing actual research, they’re just a program watching microtransactions. Thirty minutes is eternity.
But yeah, this is exactly why you see so many bros so strong on this and why politicians and Governments are getting into it. The early days are like the early days of completely unregulated stock markets. It’s cash grabs everywhere. Down the road, there’s going to be this moment of ladder pulling to “keep everyone safe”.
One can only wonder.
Yeah so this is classic rug pull. Hype, get it into retail, have automated buy in, pull liquidity. Maybe put it back a bit and pocket the fees for retail going crazy.
I read somewhere on here someone say “people wouldn’t have enough time to get scammed.” A lot of this is all bots buying, including small time players who are just using something like Freqtrade python scripts for buying and selling. No one is doing actual research, they’re just a program watching microtransactions. Thirty minutes is eternity.
But yeah, this is exactly why you see so many bros so strong on this and why politicians and Governments are getting into it. The early days are like the early days of completely unregulated stock markets. It’s cash grabs everywhere. Down the road, there’s going to be this moment of ladder pulling to “keep everyone safe”.