As a seasoned crypto investor with a knack for sniffing out potential opportunities amidst the chaos, I find myself intrigued by this latest development – the emergence of the “SEBI” memecoin on Pump.fun. While the intention behind its creation remains unclear, the $64,074 market cap condition piqued my interest.
After Hindenburg Research’s fresh claims about SEBI and its Chairman, Madhabi Puri Buch, a new meme coin called “SEBI” has popped up on Pump.fun, a platform recognized for creating user-generated cryptocurrencies.
It’s unclear why the memecoin was developed, but many believe it was created as a joke to poke fun at Sebi rather than as an investment prospect. However, the token creators have set conditions that if the market cap reaches $64074, all liquidity from the bonding curve will be transferred to Radium and destroyed.
At present, you can find 792,899,999 units for sale, each priced at 0.0000000280, as stated by Pump.fun. Remarkably, 99.97% of these tokens are part of a bonding curve, while the developer currently holds none.
What is Hindenburg vs SEBI?
The American research firm, Hindenburg Research, has once again sparked debates regarding the Adani Group by making fresh accusations directed at the head of the Securities and Exchange Board of India (SEBI), Madhabi Puri Buch.
As a researcher, I recently unveiled a startling revelation on August 10th. In my latest report, I’ve accused Buch and her husband, Dhaval Buch, of having significant investments in offshore businesses that are suspected to be associated with the Adani Group’s financial irregularities. The findings suggest that these offshore funds may have been utilized to illegitimately transfer money out of the conglomerate.
What are Hindenburg’s Allegations Against SEBI?
- Conflict of Interest: Hindenburg claims that SEBI Chairperson Madhabi Puri Buch and her husband, Dhaval Buch, held stakes in offshore entities linked to the Adani Group’s alleged financial misconduct. These offshore funds were allegedly used to siphon money out of the conglomerate.
- Lack of Action Against Adani Group: Despite the damning report against the Adani Group and subsequent media investigations, Hindenburg alleges that SEBI has shown a lack of interest in investigating the group’s alleged undisclosed web of offshore entities.
A new round of charges emerged a year following the original Hindenburg report, which implicated the Adani Group in activities like stock manipulation and deceit. However, the group has strongly refuted all these accusations.
SEBI has not yet issued a formal response to the latest claims.
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2024-08-11 01:09