- Diddy’s Solana meme coin surged to a $181M market cap earlier than crashing 79.5% amid his ongoing intercourse trafficking trial.
- Crypto promoter Sahil Arora claims he orchestrated the DIDDY coin launch with King Combs and Ye’s supervisor, John Monopoly.
- Authorized consultants warn the coin launch may very well be seen as a “money seize” and will impression Combs’ sentencing if convicted.
Sean “Diddy” Combs simply jumped headfirst into the crypto chaos, launching his personal Solana meme coin — DIDDY — whereas dealing with federal intercourse trafficking and racketeering expenses. Hours after the launch, the token spiked to a $181 million market cap, solely to nosedive 79.5% to $37 million. Discuss whiplash.
Issues received weirder when Ye (previously Kanye West) reposted Diddy’s promo with a coronary heart emoji and “#FreeDiddy,” inflicting a quick pump to $81.5 million earlier than crashing once more to $32 million. One pockets made a fast $918,000 flipping $349,800 price of DIDDY in 60 transactions — basic pump-and-dump stuff.
Authorized Bother Brewing — Optics and Timing
Crypto lawyer Ariel Givner says launching a meme coin mid-trial is “a high-risk transfer” and will backfire onerous. “It trivializes critical accusations and reeks of a money seize,” she mentioned, noting it might impression Combs’ sentencing and even tack on monetary expenses. In the meantime, infamous crypto promoter Sahil Arora is claiming he orchestrated the entire DIDDY coin debacle, allegedly roping in King Combs and Ye’s supervisor, John Monopoly, to push the challenge.
The Arora Playbook — Similar Outdated Pump-and-Dump?
Arora’s been right here earlier than — so much. He’s beforehand launched superstar cash for Caitlyn Jenner, Jason Derulo, and Wealthy the Child, most of which crashed inside hours. When requested if DIDDY was a long-term challenge, he merely mentioned: “None are.”