Pump.fun & Memecoins - AKA: shitcoin maker for retards and rugpullers, powered by who else? Solana...

[neger psykolog]

One of the most prominent presidents in the planet going down over a shitcoin scam sure wasn't in my 2025 bingo.

Given how most people lose more money than they make on crypto this reminds me of that study that showed drug dealers on most cities make less money on average than working at McDonalds.

Sounds like money laundering, narcos got billions.

Frankly it seems to me this only works if you have inside info, its all inside trading and if you're not in you're gonna lose.

"There's a big list and your name is not in it" or something.

LMAO "navy seals", are they trained in gorilla warfare too? if anything the special forces thread shows that most of these war criminals suck ass at their job and are only good for torturing children abroad and/or beat their wives to death back home.

Is he insane? the company I work at wont invest a dime in Argentina because they still have currency controls meaning that any money we make there we can't get out, and that's because Argentina's reserves are still in the red, and this fucker thinks they are willing to bail his ass?. I don't believe his sob story for a minute...

I wrote a lot of the opinion stuff a little before the most recent stuff happened. A lot of crypto people seem to be either tired or disgusted by "the memecoin meta" and it has reached the point where something that was just a bit of "harmless fun" has turned into an industry with little vultures everywhere trying to exploit shit.

And even before that you're right that there's a lot of money laundering, but it's not technically narcos. There's lots of inside favors and shit that go on but there are also a lot of dumb people with too much money who want to invest in the "next big thing". So it really isn't all money laundering, it is just the next/current global gold rush. These companies can spin up (and spin down) way faster than any conventional kind of business could ever dream of doing. And obviously even though it is a super high risk space, super, stupidly high rewards can come with that risk.

The argentina coin ($LIBRA) seems to have been a breaking point for a whole lot of people and I've not really seen this much negative sentiment in quite a while (I mostly follow legit people and don't really do memecoin shit to begin with). There are a lot of people who work in the space as a career and try to build real non-memecoin shit and even though they've always known memecoins are just a gambling/get rich quick scam and they've warned people it gives the rest of the space a very bad name.

$LIBRA has gone so terribly that not only is Javier Milei at risk of losing his presidency, a bunch of crypto influencer fags at risk of jail/physical danger...
Solana itself has experienced a dip in price:


Argentina's stock market has fallen by like 5-6% (it is difficult to say if this is purely due to the failure of $LIBRA but could've definitely been a contributor)

https://www.reuters.com/world/americas/argentina-main-stock-index-falls-after-milei-crypto-scandal-2025-02-17/

The volume of money and number of corrupt/scammer people involved in $LIBRA certainly means a few people are going to be going to jail, get sued, lose their presidency or even worse. It will take some time to see how things eventuate from here - but this much is clear: the current cryptocurrency "meta" of memecoins may be over.

(btw supposedly the same guy in that video and cast of characters were involved with $TRUMP and $MELANIA and hundreds of other projects. So it seems likely that it has been the same cabal/group controlling things and extracting money from naive people who think they're going to get rich. People tried to warn them they were flying too close to the sun but they just had to push it further and further)

edit: looking wider at the market it looks like a bloodbath. I think memecoins must have made a lot of people take a step back and ask about actual utility and the amount lost from these super big memecoin launches recently probably made a few people either bankrupt or sell their remaining assets because they all knew this shit was retarded and unsustainable.

 

[cybertoaster]

The argentina coin ($LIBRA) seems to have been a breaking point for a whole lot of people

but this much is clear: the current cryptocurrency "meta" of memecoins may be over.

Heard the same after bitconnect, after onecoin, hell after mt.gox which was 11 years ago. The current economic situation combined with influencer culture has created a never ending supply of young people desperate to escape poverty and make it big, and they seem to be the main target of these crypto scams.

There are a lot of people who work in the space as a career and try to build real non-memecoin shit

If you mean entirely new blockchains and the like, sure, but the thing is most of that stuff is sustained almost entirely by these schemes and scams, most of the activity in the crypto space is neither organic nor in good faith. I didn't see one DAPP that wasn't some shitty game that ended scamming its users, the few ones that didn't ran like ass and were more expensive than running the same app on a regular server. NFTs were another example, sometimes literal art stolen from real artists and sold as NFTs even on the major most legit NFT "galleries". And I could go on, crypto needs to police itself if they want this to end.

The argentina coin ($LIBRA)

Are there any argentines actually involved in this? all the people I seen running this scam were foreigners.

a bunch of crypto influencer fags at risk of jail/physical danger...

Smaller than a single blood cell.

(btw supposedly the same guy in that video and cast of characters were involved with $TRUMP and $MELANIA and hundreds of other projects. So it seems likely that it has been the same cabal/group controlling things and extracting money from naive people who think they're going to get rich. People tried to warn them they were flying too close to the sun but they just had to push it further and further)

I unironically hope they all met the worst fate possible, we need some of these cryptoscammer ending in narco videos so others will learn the juice ain't worth the squeeze.

 

[neger psykolog]

Heard the same after bitconnect, after onecoin, hell after mt.gox which was 11 years ago. The current economic situation combined with influencer culture has created a never ending supply of young people desperate to escape poverty and make it big, and they seem to be the main target of these crypto scams.

Oh I'm well familiar with the space, but I meant the "memecoin meta" itself is over (just as the NFT meta was over a few years ago). Everything has an expiration date, though cryptocurrency will probably survive. A lot of smaller projects will probably fail due to the market impacts of this.

Are there any argentines actually involved in this? all the people I seen running this scam were foreigners.

It is unclear. There probably were Argentinians involved at a higher level. But I have heard that "Argentinian people are angry" which may indicate normal everyday Argentinians put their money into and lost it all.

I unironically hope they all met the worst fate possible, we need some of these cryptoscammer ending in narco videos so others will learn the juice ain't worth the squeeze.

And yeah, I don't particularly like to advocate for violence but these people were literally "extracting value" that could've only come from normal people and doing so repeatedly and gloating about it. Most of them seem quite young and perhaps not quite aware of how badly it could end for them.

 

[neger psykolog]

It has now emerged that Hayden Davis (this guy) the zoomer co-creator of the $LIBRA project:


Sent money to Javier's sister to gain access to Javier and could get him to sign whatever he wanted: https://x.com/camidolabjian/status/1891951364386779562/photo/1

https://www.lanacion.com.ar/politica/escandalo-cripto-el-creador-de-libra-alardeaba-controlar-a-javier-milei-y-de-haber-pagado-sobornos-nid18022025/

An interview with Javier took place in which his lawyer interrupted him:

Milei refuses to apologize for $LIBRA memecoin scam: "If you went to a casino and lost money, what's the complaint?" On promoting the scheme: "I didn't promote it, I spread it... I used my personal account" "But you're the president" His lawyer then interrupts the interview

https://x.com/upholdreality/status/1891825104264241495

 

[cybertoaster]

But I have heard that "Argentinian people are angry" which may indicate normal everyday Argentinians put their money into and lost it all.

Just talked to a guy who's over there, apparently very few if any argentines invested in this because it was already over before most people knew about it. The indignation seems to be coming mostly from the opposition which just like over here with Trump will grasp at anything to get a hit Milei, but also...

...this, I imagine most argentines are enraged at their president allowing himself to be manipulated like this by foreigners. Imagine this in reverse and some fucking zoomers in some other countries bragging that they got Baron to tell his dad to endorse some bullshit scam and he did.

I bet that "I control that nigga" line alone would get them lynched over there.

 

[neger psykolog]

...this, I imagine most argentines are enraged at their president allowing himself to be manipulated like this by foreigners. Imagine this in reverse and some fucking zoomers in some other countries bragging that they got Baron to tell his dad to endorse some bullshit scam.

The Argentinian news article I linked above: https://www.lanacion.com.ar/politic...milei-y-de-haber-pagado-sobornos-nid18022025/

(translated into english)

Diogenes Casares, a decentralized finance expert (DeFi) and co-founder of Stream Finance, said: "I was told that someone close to Milei had received a $5 million bribe to put him in front of him. To be clear, this does not mean Milei received money, but that someone close to him had received money to make it easier for Milei to promote the token. "The high-level nature of this person and the quality of the source (although I can't fully verify it to be clear) they worried me a lot and made me press more," he narrated.

So he or someone around him basically got bribed with $5m USD for this whole shitfest to happen. It looks very serious and I'm curious if Javier will last as president much longer.

edit: they're threatening to impeach him also: https://www.coindesk.com/policy/202...eachment-over-libra-token-controversy-reuters

 

[Harm]

His rationalizations in the Coffeezilla interview really exposes how lost in the sauce this Hayden Davis dude is. "Uhm bro, if we don't snipe our own memecoin then others will snipe it! So, what are we supposed to do? Not snipe it??" Completely missing the point that while this corruption is commonplace to the people who live and breathe scam memecoins, the common people who are being robbed don't even truly know what the fuck a "snipe" is.

You don't walk into a crack house, start smoking crack, and then blame everyone else in the crack house because they were going to smoke the crack first. You chose to walk into the crack house, and if you're cogent enough to realize that it's a place where people smoke crack, you're still responsible for your decision to smoke crack.

Dude has a lot of growing up to do and will never do so because obscene wealth doesn't facilitate maturation. Nigger scammed a bunch of people by paying off some corrupt politician and now plays the victim because people want him dead now for scamming them. Negative self-awareness and devoid of empathy.

 

[neger psykolog]

Dude has a lot of growing up to do and will never do so because obscene wealth doesn't facilitate maturation. Nigger scammed a bunch of people by paying off some corrupt politician and now plays the victim because people want him dead now for scamming them. Negative self-awareness and devoid of empathy.

I don't think "growing up" is really going to happen given the amount of threats that are flying around. He'd be much safer at this point getting arrested and thrown in jail.

(I'm not advocating for violence but when you basically "steal" money from people they tend to get very angry)

 

[Belgians in the Congo]

Argentinian

Argentine*

they're threatening to impeach him also:

It won't go anywhere, the rabid leftie opposition UP (Leftwing socialists) have tried to impeach him 7 timed before but the PRO party (center-right market libs) and the UCR (center-left) have both already shot down the idea meaning that it's unlikely they'll even reach a quorum to debate the impeachment bill let alone get the required 2/3 votes needed to carry it out.

Anyone saying that Milei will or can be impeached over this either an idiot or severely ininformed into how the Argentine legislative branch works.

t. Actually in Argentina

 

[neger psykolog]

It won't go anywhere, the rabid leftie opposition UP (Leftwing socialists) have tried to impeach him 7 timed before but the PRO party (center-right market libs) and the UCR (center-left) have both already shot down the idea meaning that it's unlikely they'll even reach a quorum to debate the impeachment bill let alone get the required 2/3 votes needed to carry it out.

Anyone saying that Milei will or can be impeached over this either an idiot or severely ininformed into how the Argentine legislative branch works.

t. Actually in Argentina

Interesting but I guess there are always limits and if this thing keeps ballooning and increasing distrust in Milei and also negatively impacts Argentina's economy then it is definitely possible. He may even resign himself at some point over it.

 

[Harm]

I don't think "growing up" is really going to happen

Definitely not. He doesn't want to grow up. He wants to get away with it all. That's why 60% of the interview was "what was I supposed to do? Just not scam people for millions of dollars?" He put all his intellectual skill points into learning crypto and forgot basic rudimentary humanity; dude thinks he's the victim because people want retribution.

Meanwhile, if someone scammed him out of all his money, he'd probably be pulling up RentAHitman.com to merc them.

Anyone saying that Milei will or can be impeached over this either an idiot or severely ininformed into how the Argentine legislative branch works.

Imagine not knowing the intimate details of the Argentine legislative branch's impeachment process. Couldn't be me!

 

[neger psykolog]

Definitely not. He doesn't want to grow up. He wants to get away with it all. That's why 60% of the interview was "what was I supposed to do? Just not scam people for millions of dollars?" He put all his intellectual skill points into learning crypto and forgot basic rudimentary humanity; dude thinks he's the victim because people want retribution.

No I was saying that as in I don't think he's going to live that long. But yeah aside from that he's pretty much a psychopath or sociopath or some shit.

 

[Belgians in the Congo]

Interesting but I guess there are always limits and if this thing keeps ballooning and increasing distrust in Milei and also negatively impacts Argentina's economy then it is definitely possible. He may even resign himself at some point over it.

He won't resign over it, hell he hasn't even taken the blame he should have over this.

I agree there are limits but the gov statements after the fact of establishing an independent investigation into any wrongdoing including the high-level government figures (himself too) with the oversight of Congress makes me think the Karina bribes is entirely fake, the zoomie was just lying to try and impress his friend and is now releasing it to try and draw eyes away of himself and into Milei.

Also keep in mind the "sign anything I put infront of him" is completely fake when there have been zero EOs from the Milei administration that were pertaining to shitcoins.

 

[neger psykolog]

I agree there are limits but the gov statements after the fact of establishing an independent investigation into any wrongdoing including the high-level government figures (himself too) with the oversight of Congress makes me think the Karina bribes is entirely fake, the zoomie was just lying to try and impress his friend and is now releasing it to try and draw eyes away of himself and into Milei.

Another prominent crypto figure (Charles Hoskinson, who is a programmer/developer and not really a memecoin creator/trader/hypeman type faggot) made a video about his own experience in Argentina and mentioned that bribes were requested not by Milei, but by his entourage:

Cardano's creator, who denounced bribe requests, spoke out again I support Milei a lot but he confirmed the requests for bribes: “We followed the entire presidential protocol, but people in his entourage cut him off, wanting to turn access to him into a commercial gain”

https://x.com/camidolabjian/status/1891950216284139699

https://x.com/IOHK_Charles/status/1891912605750657044

Btw, another faggot to have emerged in all of this is Dave Portnoy (the barstool sports faggot) who has been getting involved with memecoins and doing some questionable stuff. The feedback he is getting from some people for his participation can best be summarized with the below quote from DRNIGGER(Gaza Mode):

https://x.com/inversebrah/status/1891974764417384533

 

[neger psykolog]

https://x.com/BenArmstrongsX/status/1891929648071647596

https://ghostarchive.org/archive/poNdf

Bitboy (a crypto influencer famous for getting arrested during a livestream after he had some sort of a breakdown) appears to have like been beaten up in a psych ward or something.

(the video below is from more than a year ago when he was arrested)

oh I forgot that part - he kind of had a Nick Rekeita situation

 

[#FreeRoss]

I agree with Javier Milei's reasoning. What kind of idiot puts their savings in a memecoin? It's like getting mad that you put your life savings into a casino.

 

[neger psykolog]

I agree with Javier Milei's reasoning. What kind of idiot puts their savings in a memecoin? It's like getting mad that you put your life savings into a casino.

That's fine when it is framed as a memecoin. Like $TRUMP clearly had a bunch of shit saying it had no utility and was clearly a memecoin.

$LIBRA on the other hand made it sound like it had utility and was going to be used to fund small businesses and shit.

Big difference. Even if only retards would put their money into either of them in the first place, $LIBRA made it sound like it had a viable business plan. The difference is a legal one.

 

[neger psykolog]

Argentine television/news clip of them saying "nigga" (from the screenshot about controlling Milei) and explaining what it means lol:

 

[somevan712]

...makes me think the Karina bribes is entirely fake, the zoomie was just lying to try and impress his friend and is now releasing it to try and draw eyes away of himself and into Milei.

His message does read as some retard trying to sound important to his friend. I am curious to see if the investigation turns up proof of a bribe as Hayden describes. $5M is no small amount, especially if converted into Argentine peso.

Also keep in mind the "sign anything I put infront of him" is completely fake when there have been zero EOs from the Milei administration that were pertaining to shitcoins.

This part sounded gay to me as well. I understand the idea he is trying to convey, but it sounds like him trying to hype himself up.
What could the President have even signed, and wouldn't someone have taken notice?

Bitboy (a crypto influencer famous for getting arrested during a livestream after he had some sort of a breakdown) appears to have like been beaten up in a psych ward or something.

Bitboy is such a retarded faggot. Upper Echelon on YouTube made a video (archive) a few days ago talking about the recent "manifesto" Bitboy put out. He's been in schizo mode for a while now. I'm not surprised to see him arrested. I believe he showed up at his previous business partner's house with a gun semi-recently, too.

What kind of idiot puts their savings in a memecoin? It's like getting mad that you put your life savings into a casino.

The average person isn't putting their savings into a memecoin—especially the average person in Argentina. It's the rich and the idiots (not mutually exclusive) who put a lot of money into meme coins.

Some people are shocked when they lose it all in a casino, and some people putting money into memecoins are not too different. One factor is the amount of people hyping these tokens up, saying things like "this will hit [some large amount]!!!!!!!!", "this is the next BitCoin!!!!!!!!!!!!", and "to the mooooooooon!!!!!." People feel pressured not to miss out on such a "guaranteed" money maker, so they buy in. Also, seeing a coin tied to a celebrity or powerful person (think Elon Musk, Trump, and now Milei) gives the illusion of credibility too. There are also many echo chambers where the only discussion is around hyping memecoins or crypto in general, and some people get too invested in both.

Side note: I believe after Dogecoin spiked in value, many Discord servers and Telegram channels were advertised in 2021, specifically to pump and dump tokens. I joined one and saw the admins posting the next coin to pump, and hundreds or thousands of users would buy in. Of course, the admins are the ones dumping since they bought in at 0, while some users profit, but most lose their money. Most memecoins or shitcoins are just people trying to profit off the inevitable pump and dump, before it happens.

 

[neger psykolog]

Side note: I believe after Dogecoin spiked in value, many Discord servers and Telegram channels were advertised in 2021, specifically to pump and dump tokens. I joined one and saw the admins posting the next coin to pump, and hundreds or thousands of users would buy in. Of course, the admins are the ones dumping since they bought in at 0, while some users profit, but most lose their money. Most memecoins or shitcoins are just people trying to profit off the inevitable pump and dump, before it happens.

Those type of servers and signal/pump groups have been around forever. Literally any kind of scam you can think of has been around since Bitcoin launched, even the "send me 1 BTC and I'll send you 2 BTC back".
People pay to get their tokens featured in those groups.

The average person isn't putting their savings into a memecoin—especially the average person in Argentina. It's the rich and the idiots (not mutually exclusive) who put a lot of money into meme coins.

A lot of it is ending up being extremely poor people who are either stupid or mislead into thinking they'll make a ton of money. There's been so many scams that have targeted low income people over time besides memecoins (which don't really actively target the same way, by having like seminars and conferences and MLM schemes for getting people to buy in the first place).

This is exactly why so many countries have pretty strict laws against crypto and also why crypto gets such a bad name - this latest Libra shit will push things back quite a lot. I can see sentiment is very low right now and the market is impacted (namely projects that have actual use cases). It sucks that memecoins have this kind of an influence.