A Livestreamed Tragedy on X Sparks a Memecoin Frenzy

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Wired 1d ago

A Livestreamed Tragedy on X Sparks a Memecoin Frenzy - Wired

Quick Summary:

When a young man from California broadcast his death on X, profit-hungry traders piled into a cryptocurrency created in his image.

The new cultural prominence of highly volatile memecoins, which offer the prospect both of outsized gains and losses, is also likely to have compounded the risk for people predisposed to problem gambling or trading, researchers say.“People have enormous capacity to make money very quickly.

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.