‘Som Bonkmon Scam’: SBF Meme Coins Pump 300x, Then Crash After Judgment

If sentenced to 25 years in prison It was announced today. To shame FTX founder Sam Bankman-Fried has come as a surprise to no one, here's a related development that will surprise no one: Degens has collected a lot of meme coins on the news, which in some cases have increased in value by more than 30,000% before crashing. return to worthlessness.

Some intrepid crypto user created Mim coin on Ethereum scaling network base “The Sam Baseman Scam.” Around 6:00 a.m., hours before Bankman-Fried's sentencing hearing was scheduled to begin. At 1:00 p.m., after the hearing ended, the token (FTX) rose more than one percent in value to nearly 35,000%.

Minutes later it collapsed. At the time of writing, the token's value is less than 4/10ths of a coin, and it continues to go down—but since its creation, it's still up more than 9,500%.

That flexibility, however, did not prevent decay from creeping in. no way. The “Sam Baseman Scam” saw more than $3.4 million worth of business today, according to Dexscreen. It still maintains a capitalization of $400,000 and liquidity worth $80,000—although that amount has been shrinking in recent hours, and the novelty is fading.

Meanwhile, on the Solana, a similar, if somewhat more creative, token-“Scamming like Bonkmon.” (SBF) – Lived in the exact same cycle, albeit with slightly different timing.

The Solana SBF token, which was created yesterday, rose 15,000 percent last night. That streak continued overnight in the minutes before Bankman-Fried's sentencing hearing. By then, however, the coin had begun to accumulate—writing less than 9/100ths of a penny, just shy of a dime. It is now down more than 90% in the last 24 hours.

For some reason – maybe ongoing meme coin madness On Solana, perhaps a cheeky hint to the feeling of meme coin Bonkor maybe Solana-SBF RELATIONSHIP—The “Som Bonkman Fraud” saw a record $24 million trade in the previous day. The token holds $146,000 in locked liquidity, and—currently—is posting a market cap of $675,000.

Today's SBF are tokens. Hardly of first Millions of dollars worth of capital to flirt with nothing to invest in a major news event. Such signs rarely bring happy endings to their owners: They are normal “Carpet Pulled”. By anonymous creators, draining liquidity and leaving investors out of pocket.

Edited by Andrew Hayward.