Crypto Trader Accuses Father's Memecoin Launch as a Scam
- Crypto traders have accused a new fathers livestreamed memecoin launch of being a scam
- The $PREGOWIFE coin plummeted following the birth, bringing accusations of foul play
- The father denies any wrongdoing, asserting his actions were transparent
A fathers attempt to commemorate his daughters birth by launching a memecoin during a livestream of the event has drawn sharp criticism from the crypto community. The father, a man known online as Lay-Jee-Un, stated that the initiative was a historic gesture, but many traders feel misled, especially after the coins value cratered following the delivery. Following accusations that he didnt know what he was doing, Lay stated that he is no noob, suggesting that he was aware of the actions he took which killed the coin.
A Memecoin (and a Child) is Born
Lay-Jee-Un livestreamed his wifes labor on Pump.fun, a platform for launching memecoins on the Solana blockchain . During the stream, he introduced the $PREGOWIFE token, which quickly gained traction, reaching a market cap of $86,940. However, shortly after the birth of their daughter, named Solana (no, really), the market cap plummeted by 89% to just $9,460. Subsequently, Lay launched another token, SOLBABY, dedicated to his newborn, which also experienced a sharp decline in value.
The rapid devaluation of both tokens led to accusations of a rug pull, with some traders pointing to large token purchases made through multiple wallets, suggesting manipulation. However, Lay refuted these claims, stating, Never bundled any coin ever sir, and emphasizing his limited investment of 0.5 SOL. Lay told Decrypt that he was a [crypto] vet and no noob, adding, I might be new to Pump.fun trends and how they do things. but Im no noob to how crypto works.
Far Cry From the Bitcoin Baby
Lays actions are a far cry from the actions of Peter Bowles who, in January 2019, announced the birth of his baby Izabella and asked for donations for her future college fund in the form of Bitcoin. The Bitcoin Baby raised 1.1 BTC before Bowles withdrew the funds in 2022.
While some view Lays actions as a heartfelt gesture, others see it as a cautionary tale about the speculative nature of such ventures. Either way, the worlds first blockchain baby will likely not want reminding of her inglorious entry into the world years down the line.
