Burn

DeFi

Mother Iggy

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 Pop star and new crypto enthusiast Iggy Azalea has <a style="color: #0000ff;" href="https://twitter.com/MOTHERprovides/status/1796052775362609502?t=yJTozE3ZhRSHr-UVXiPiMg&amp;s=19" rel="noopener noreferrer nofollow">stated</a> that she will “burn” her own coins whenever a celebrity coin is exposed as a scam, a “rug pull.”&nbsp;
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She claims her goal is to build trust and integrity in the crypto community to want to distinguish herself from other controversial celebrity coins.
<blockquote class="pullquote align-center">
 “Every time they start rugging, I just want to burn some of mine because I’m a celebrity in the space, and I know I’m going to get hated on for being here. So I’m just going to burn some every time someone comes that’s a celebrity and it’s looking like it’s clearly a rug. I’m just gonna burn.”
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Azalea<a style="color: #0000ff;" href="https://twitter.com/MOTHERprovides/status/1796052775362609502?t=yJTozE3ZhRSHr-UVXiPiMg&amp;s=19" rel="noopener noreferrer nofollow"> stated in an X Space talk</a> on May 30.
Azalea also discussed her entry into the crypto space, stating that it was motivated by her partner’s interest in technology and the appealing culture of memecoins.
<blockquote class="pullquote align-center">
 “Honestly, nobody really onboarded me. Matt just likes crypto and honestly, [he] just doesn’t shut up about any type of technology or new thing. […] NFTs didn’t feel like something that I could fit within, but memecoin involves so much more shitposting and memeing and stuff that I really like, like that kind of culture of the internet.”
 “I think it’s awesome to aim for something positive,” 
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Azalea <a href="https://twitter.com/MOTHERprovides/status/1796052775362609502?t=yJTozE3ZhRSHr-UVXiPiMg&amp;s=19" rel="noopener noreferrer nofollow">stated during the X Space.&nbsp;</a>
The artist also <a style="color: #0000ff;" href="https://twitter.com/MOTHERprovides/status/1796052775362609502?t=yJTozE3ZhRSHr-UVXiPiMg&amp;s=19" rel="noopener noreferrer nofollow">mentioned</a> her plans to keep her coin’s value stable by securing a market maker soon.
Meanwhile, Azalea’s newly launched memecoin on Solana, Mother Iggy (MOTHER), has been<a style="color: #0000ff;" href="https://defi-planet.com/2024/05/iggy-azaleas-memecoin-mother-faces-insider-trading-allegations/" rel="noopener noreferrer nofollow"> accused</a> of insider trading.&nbsp; Blockchain analytics platform Bubblemaps <a style="color: #0000ff;" href="https://twitter.com/bubblemaps/status/1795812940295061942?t=oEaS07ML3_ZW0voyskif6Q&amp;s=19" rel="noopener noreferrer nofollow">claimed </a>insiders acquired over 20% of the token’s supply at launch before Azalea promoted it, already dumping $2 million worth of tokens before the allegations came to light.
Azalea has yet to get a formal response to the allegations, as of press time.&nbsp;However, the meme coin’s official X account posted that more than <a href="https://solscan.io/tx/3yuuKEpKgfLdtjoiLVjY2dDkgEfeHFKsni33Gk9misvXCZuEAoGDuTsdgYCCJSDuF9bC1oLQA6nB4qu99yrGWK2t" rel="noopener noreferrer nofollow">2 million tokens have been burned.</a>
<blockquote class="twitter-tweet">
 Every time they rug… we burn <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"><a href="https://t.co/abxSx8jCtN" rel="noopener noreferrer nofollow">https://t.co/abxSx8jCtN</a>
 — $mother (@MOTHERprovides) <a href="https://twitter.com/MOTHERprovides/status/1796039683115303323?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 30, 2024</a>
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The post <a href="https://defi-planet.com/2024/05/iggy-azalea-to-burn-her-mother-memecoins-to-build-trust-amid-insider-trading-allegations/" rel="noopener noreferrer nofollow">Iggy Azalea to Burn Her $MOTHER Memecoins to Build Trust Amid Insider Trading Allegations</a> appeared first on <a href="https://defi-planet.com" rel="noopener noreferrer nofollow">DeFi Planet</a>.

Iggy Azalea to Burn Her $MOTHER Memecoins to Build Trust Amid Insider Trading Allegations

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