Pop sensation and rising crypto star, Iggy Azalea, has made a groundbreaking announcement. In a bid to foster trust and integrity within the crypto community, Azalea has pledged to burn her own coins whenever a celebrity coin is exposed as a scam, commonly referred to as a “rug.” This bold move sets her apart from other controversial figures in the entertainment industry.
Speaking on the X Space platform, Azalea expressed her desire to be a force for positivity. She stated, “I just think it’d be fire to want to be something positive.” With this statement, she emphasizes her commitment to promoting a trustworthy and reliable crypto landscape.
Azalea also shared her initial foray into the world of cryptocurrencies and her motivation to immerse herself in the culture. She revealed her plans to ensure the integrity of her own coin, Mother Iggy (MOTHER), by aiming to secure a market maker by the end of the following day.
Despite Azalea’s efforts, concerns have been raised about the legitimacy of MOTHER. Bubblemaps, a supply auditing tool platform, alleged that insiders purchased a significant portion of the token’s supply before Azalea even announced its launch. These insiders reportedly sold their holdings for a staggering $2 million. This revelation raises doubts about the fairness and transparency of the coin’s distribution.
In response, X user Dominium has disputed these allegations, suggesting that the highlighted transactions may be the result of miner extractable value (MEV) bot operations. These bots are known for exploiting arbitrage opportunities and do not rely on accessing material non-public information (MNPI) like traditional insiders. Therefore, they do not fall under the legal definition of insider trading.
In a related development, leaked information has revealed a celebrity price list linked to the Caitlyn Jenner meme coin’s “mastermind.” This revelation further highlights the complexities and controversies surrounding the crypto world’s intersection with the realm of celebrities.
Azalea’s decision to burn her own coins in response to scam coins showcases her commitment to fostering a trustworthy and reputable crypto ecosystem. By taking a stand against fraudulent practices, she not only sets herself apart from other controversial celebrities but also aims to build a positive reputation within the crypto community.