Crypto Chaos

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Crypto Chaos 🤪

Crypto Chaos

Coinbase, that darling of the digital dollar, has decided to pull the rug out from under three meme coins—Floki, Turbo, and Gigachad—for its New York users. April 14, 2025, at 2 PM ET, is the date circled in red on the calendars of these digital denizens. Coinbase, shrouded in the usual veil of corporate vagueness, mumbled something about its “standard asset review process.” Legal eagles, ever eager for a shred of drama, are already squawking about potential legal tangles, but Coinbase remains tight-lipped, leaving the internet to speculate like a pack of ravenous pigeons.

Oh, and the market? It’s behaving like it’s on a sugar rush. Floki’s price went up by 3.6%, Giga nudged higher by 1.1%, and Turbo, well, Turbo jumped a whopping 5.4% in the last 24 hours. It’s almost as if they’re laughing in the face of impending delisting.

Just a few months ago, Coinbase had the audacity to add Floki to its listing roadmap—a move that sent the token soaring to its highest point in five months. Turbo and Giga got similar boosts, their prices spiking like party balloons after their roadmap announcements. It’s a curious phenomenon they call the “Coinbase Effect,” where tokens seemingly gain magical powers when they land on the exchange, only to crash back to earth later.

But let’s not forget the real driving force behind this meme coin mania: Pump.fun, a Solana-based platform that churns out meme tokens like a digital sausage factory. Since January 2024, it’s reportedly spewed out a staggering 8.5 million of these digital ephemera.

And in a move that’s sure to make Wall Street sweat, the U.S. Securities and Exchange Commission, now under the watchful eye of the Trump administration, declared that meme coins are not securities. They’re not offering passive income or ownership in a company, they argued, so they’re free from the regulatory clutches.

So, what’s the future for these digital jesters? Tracy Jin, COO of MEXC, sees potential, but cautions investors to tread carefully. “Meme coins show how decentralized finance is changing,” she says, “but do your research and manage your risks.”

After all, in the wild world of crypto, anything can happen. 😜

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2025-03-13 11:04