After helping Caitlyn Jenner launch a meme coin and For allegedly stealing “a lot of money” Among them, Jenner claimed, is a cryptocurrency promoter Sahil Arora Jump to the new celebrity topic: rapper Iggy Azalea.
But Azalea Launched its own code Instead of working with Arora, he criticized the promoter in a series of tweets on Tuesday. That didn’t stop Arora from apparently cashing in $380,000 in a presale for his Iggy Azalea token — and it has yet to be delivered to those who sent the money, as of this writing.
Through his Telegram group, XO, Arora announced that Iggy Azalea would be his next celebrity partner in launching a meme coin through Pump.fun. He quickly dropped a headline asking people to send Solana (SOL) to enter a pre-sale for the soon-to-be-launched token.
Initially only open to 100 wallets, this number soon increased to 700 and eventually 1000. Now, Pre-sale portfolio It holds over $380,000 worth of cryptocurrencies, but those who bought them say they have yet to receive their tokens amid mixed signals about Azalea’s MOTHER token.
On Tuesday, Arora dropped a Pump.fun link into his Telegram group for his IGGY icon with the promise of an endorsement tweet from the Australian rapper coming his way. Then it is Posted on Twitterwhich was not received very warmly – especially after Azalea herself said that she had chosen to launch her own token instead, and was not collaborating with Arora.
“Are you sending pre-sale codes???” One Twitter user Requested. “I sent two Solana in the pre-show, what will happen to that?” last Screamed. “While everyone is asking about him [the] airdrop, I’m wondering where the post is from Iggy Azalea herself LMAO? another wondered.
“she is going to [Twitter] Spaces with me for $10 million [market cap]”, Arora claimed on Telegram, while IGGY had a market cap of $2 million. But before his token reached $3 million, Azalea took to Twitter to launch her token, MOTHER, without Arora.
“Don’t disappoint your mama,” he raps to publish, followed by the token address. “Sahil dear, take the L and go already.”
In response, the cryptocurrency promoter took to Telegram to relay Targets’ posts related to the airdrop deal — which was originally promised ahead of the token’s public launch. Instead, he offered to automatically greenlist future projects for those who paid, cut profits by 10% from upcoming token launches, and drop IGGY after it hits $10 million in market capitalization instead.
Over the next hour, according to DEX testing devicethe IGGY token has fallen from a market cap of $1.35 million to $160,000, and has fallen further to $55,000 at the time of writing.
Azalea then took to Twitter Spaces to tell her side of the story. According to multiple sources who were there, the musician claimed that Arora spoke with her manager, trying to convince them to launch a token. But after researching Arora’s background, they chose to move forward without him. Arora seems to have caught on to this, and beats them to the punch with his IGGY token.
Behind these Twitter spaces is an Australian rapper Become a darling of Crypto Twitterwith many prominent figures claiming that it actually looks the same I understood space He wasn’t there just to make quick money.
For his part, Arora responded to the controversy by saying: Teasing another drop And try Flex on the haters By displaying his apparent wealth.
Decrypt reached out to Arora several times before publication but did not immediately receive a response.
Azalea has been ahead so far in the perceptions battle with Arora, based on broad Crypto Twitter sentiment, though its token launch has not been without drama. Cryptocurrency analytics company Bubblemaps He pointed to apparent “insider” trading on MOTHER before announcing it on Twitter, where traders pre-sold 20% of the supply and made millions in profits by selling.
The rapper told a pseudonymous analyst on the chain OKHOTSHOT Twitter Spaces reported that its token was snipped by automated trading bots the moment it was launched. One wallet In particular, it appears to be the Pump.fun sniper bot that has been buying up large amounts of newly launched tokens.
Bubblemaps didn’t seem satisfied with the explanations, however, and ended its Twitter thread by quoting and tweeting a chart highlighting the poor performance of many Celebrity-approved icons from the past.
“More celebrity icons will come,” the company said to caution“But remember that most of them end up worthless and often suffer from insider trading.”
Edited by Andrew Hayward