A recent analysis has raised alarms over celebrities launching cryptocurrencies, following a significant profit garnered by Caitlyn Jenner from meme coin ventures. Over the past four days, Jenner has earned approximately 2,381 Solana (SOL), which translates to around $405,000, by launching and trading 12 meme coins on the Solana blockchain.
On May 27, Caitlyn Jenner launched a cryptocurrency token named $jenner. Initial records indicate she spent 1.3 SOL (about $221) to acquire 44.56 million $jenner tokens on the platform Pump.fun. Subsequently, she sold these tokens for 253 SOL, netting a profit of 252 SOL, or approximately $43,000.
Patterns of Suspicious Transactions
Following the sale, Jenner transferred the profits to two different addresses. Notably, one of these addresses, “85feY8…soLxYd,” has been identified as a Binance deposit address. Over the last few days, this address has seen a flurry of activity, with multiple transactions linked to newly created addresses, suggesting a pattern of planned profit transfers.
Analysis has revealed that Caitlyn Jenner has systematically created new addresses to launch and profit from meme coins. The consistency of these transfers to a single Binance deposit address has made the transactions particularly conspicuous.
The scenario surrounding Jenner’s activities highlights the potential risks associated with celebrity-backed cryptocurrencies. Experts urge potential investors to exercise caution and conduct thorough research before investing in tokens subject to similar speculative activities.
