‘Not a Scam 😂:’ Caitlyn Jenner Is Being Sued For Memecoin Securities Fraud
‘Not a Scam 😂:’ Caitlyn Jenner Is Being Sued For Memecoin Securities Fraud
The plaintiffs allege they've lost tens of thousands of dollars on investments into Caitlyn Jenner's $JENNER memecoin.
Wow! All I can say is wow!
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Due to Jenner calling her own project and memecoin a ‘scam,’ $JENNER’s market capitalization rapidly plunged to $5 million as confusion ensued and Jenner issued no concrete explanation,” the complaint says. “Investor holdings began losing the majority of their value very rapidly.” But Jenner wasn’t done with $JENNER: she minted another memecoin with the same name on the Ethereum blockchain, and investors–including the plaintiffs–followed her there, too.
There's an old saying in Tennessee... I know it's in Texas, probably in Tennessee... that says fool me once, shame on... shame on you.
I actually think it's a societal issue rather than an intelligence issue. As a society we boost celebrities and put them on a pedestal almost deifying them. While at the same time we create a poisonous world and also ignore mental health. So of course people will follow celebrities like a religion hoping to bask in their glory at worst and change their life at best.
With Caitlyn, she should've faded to obscurity years ago and a better society would've ensured she needed for nothing. She should at least feel a sense of responsibility but again, capitalism is all about trampling on the weak and getting ahead.
Until we eradicate monetary wealth and support mental health as a matter of course at all levels, things like this will happen and people like this will thrive. We have to end capitalism for a better tomorrow.