As a seasoned researcher with a background in blockchain technology, I find the allegations against Caitlyn Jenner deeply concerning. The reported earnings of over $400,000 through manipulating meme coins on Solana is an alarming display of potential market manipulation and insider trading.
In a surprising disclosure, it’s been revealed that Caitlyn Jenner is accused of making a substantial profit by introducing a dozen memecoins on the Solana blockchain within the past four days. Reportedly, she has earned around 2,381 SOL or approximately $405,000 through this venture.
On May 27, Jenner initiated her plan by introducing the $jenner token on Pump.fun and spending 1.3 Solana ($221) to acquire a large quantity, which amounted to 44.56 million $jenner. Subsequently, she successfully sold this entire batch for 253 Solana, resulting in a remarkable earnings of 252 Solana or approximately $43,000.
As an analyst, I would caution against blindly investing in tokens endorsed by celebrities. The recent surge of @Caitlyn_Jenner earning approximately $2,381 or $405K from launching 12 mem coins on Solana within the last 4 days serves as a reminder of this advice.
— Lookonchain (@lookonchain) May 31, 2024
The funds were moved to two different destinations. One of these addresses, labeled “85feY8…soLxYd”, is a Binance wallet address for deposits.
The boldness of Jenner’s actions is emphasized by her negligence in concealing the financial deals, as all earnings were routed to the same Binance account. This revelation acts as a strong reminder for investors: be prudent and carry out extensive investigation before putting money into tokens endorsed by celebrities.
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2024-05-31 15:00