Saturday, May 10, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

A Livestreamed Tragedy on X Sparks a Memecoin Frenzy

Simon Osuji by Simon Osuji
March 20, 2025
in Artificial Intelligence
0
A Livestreamed Tragedy on X Sparks a Memecoin Frenzy
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter


This story contains mentions of suicide. If you or someone you know needs help, please call 1-800-273-8255 for free, 24-hour support from the National Suicide Prevention Lifeline.

Twenty-three-year-old Arnold Robert Haro addressed his final words to the phone in his hand. “If I die, I hope you guys turn this into a memecoin,” he said. Then Haro took his own life.

Haro died on February 21 at his family home in Madera County, California, a death certificate obtained by WIRED shows. His suicide was broadcast live to his followers on X, where he went by the handle @MistaFuccYou. Footage of Haro’s death has since been removed from the platform, but the incident was briefly listed in its trending tab.

In the hours after Haro’s death, people created dozens of memecoins—a type of highly volatile crypto coin used as a vector for financial speculation—modeled after him. Sensing an opportunity to profit, traders piled into one of the coins in particular, driving its value to $2.1 million in aggregate. (The coin has since lost 96 percent of its value.)

On X, some tried to argue that whoever was behind the MistaFuccYou coin had duly granted Haro’s final wish. But most denounced the impulse among traders to try to profit by his death. “If you’re trading this, you’re sick af,” wrote one user.

Speculation ran rampant on X that Haro had ended his life because he had lost money to a memecoin rugpull—a maneuver whereby somebody creates a new coin, promotes it online, then sells off their holdings in one swoop, devaluing everyone else’s stake. WIRED was unable to confirm whether this had happened to Haro, but his friends have disputed the narrative. “It had nothing to do with crypto … It’s not what all these crypto nerds seem to think,” one of Haro’s friends, who goes by j nova on social media, told WIRED. Haro’s family, meanwhile, has described his death as the result of “his battle with depression.”

The incident captures in microcosm the race to the bottom in memecoin trading circles, where only the most heinous and morally bankrupt ideas are now rewarded with attention, says Azeem Khan, cofounder of the Morph blockchain and venture partner at crypto VC firm Foresight Ventures.

“We’ve reached the point where the most potentially exciting launch that people are looking at is Kanye trying to launch a Swastika coin,” says Khan, in reference to now-deleted X posts made by an account associated with the artist Kanye West. “That’s how terrible this space is.”

Until last year, launching a memecoin was relatively expensive and technically burdensome, which meant few came to market. Only Dogecoin—the original memecoin—and a handful of derivatives had any sort of longevity.

That equation was reversed with the arrival of Pump.Fun, a platform that makes it simple for anyone to launch a memecoin at no cost. Since Pump.Fun launched in January 2024, many millions of memecoins have flooded the market, among them the coins modeled after Haro.



Source link

Related posts

How to Use Your iPad as a Second Monitor With Your Mac (2025)

How to Use Your iPad as a Second Monitor With Your Mac (2025)

May 10, 2025
Skullcandy Method 360 ANC Review: Great Sound, Cheap Silence

Skullcandy Method 360 ANC Review: Great Sound, Cheap Silence

May 10, 2025
Previous Post

Inverness jobs growth on back of pumped hydro projects

Next Post

Russian activities in Africa likened to criminal activities under Wagner – report claims

Next Post
Russian activities in Africa likened to criminal activities under Wagner – report claims

Russian activities in Africa likened to criminal activities under Wagner - report claims

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Ukraine Is Riddled With Land Mines. Drones and AI Can Help

Ukraine Is Riddled With Land Mines. Drones and AI Can Help

1 year ago
Natural gas vehicles slowly gaining traction in Africa

Natural gas vehicles slowly gaining traction in Africa

2 years ago

Patrick Mahomes partners with Walmart and shares his favorite items: What did the Chiefs quarterback buy?

2 years ago
U.S. FDA Approves ABRYSVO™, Pfizer’s vaccine for the prevention of respiratory syncytial virus (RSV) in infants through active immunization of pregnant individuals 32-36 weeks of gestational age

Pfizer and BioNTech announce positive topline data for mRNA-based combination vaccine program against influenza and COVID-19

2 years ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.