Iggy Azalea, the Aussie rapper who has lately entered crypto, revealed her technique to battle crypto scams.
Azalea defined her method in X Areas, acknowledging that she goes to “get hated on” for being a celeb in crypto. Subsequently, to counter potential backlash, she guarantees to burn a few of her Mom Iggy (MOTHER) tokens each time a celeb challenge seems to be a “rug pull.”
As such, Azalea goals to determine credibility throughout the crypto group, setting herself aside from different celebrities who’ve confronted criticism.
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The rapper additionally introduced her plans to safe a market maker, which might make sure the integrity of her coin, MOTHER.
Discussing her entry into crypto, Azalea revealed that her involvement was largely influenced by her brother, who’s keen about know-how and crypto. She added:
NFTs didn’t really feel like one thing that I might match inside, however memecoins contain a lot extra memeing and stuff that I actually like — that sort of tradition of the web.
Nevertheless, her MOTHER token confronted scrutiny when Bubblemaps, an on-chain analytical instrument platform, alleged that insiders purchased 20% of the token’s provide at launch earlier than Azalea introduced it after which dumped the holdings for $2 million.
Alternatively, the transactions in query might have additionally been the results of miner extractable worth (MEV) bot operations. These bots exploit arbitrage alternatives utilizing publicly out there transaction knowledge.
Regardless of the controversies, Azalea stays dedicated to her plan, aiming to create a optimistic affect and reinforce the integrity of her crypto ventures.
Such integrity is especially wanted at this time period, as there has lately been a surge of celebrity-related memecoins tied to alleged scammer Sahil Arora.
Having accomplished a Grasp’s diploma in Economics, Politics, and Cultures of the East Asia area, Aaron has written scientific papers analyzing the variations between Western and Collective types of capitalism within the post-World Conflict II period.
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