While MCX fund's strategic investment in Binance had yet to cool off, the OKX Web3 wallet abruptly halted its DEX operations amid compliance controversies. Meanwhile, the recent on-chain sniping incident on Hyperliquid exposed the ruthless tactics employed by crypto “whales.”
The memecoin market frenzy has shifted from Memes of CZ’s face and capital rotations in the SOL ecosystem, to the viral spread of Studio Ghibli-style images across the web. Over the last 2 weeks we’ve witnessed the contrasting forces of regulatory crackdowns and explosive bouts of investing growth dance like twin shadows, showing us the magical and often surreal nature of the crypto industry.
Hyperliquid delists JELLYJELLY memecoin following a whale manipulation incident. The contrast in reactions between DeFi enthusiasts and meme influencers are particularly noteworthy.
Hyperliquid delists JELLYJELLY memecoin amid whale manipulation fiasco
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Binance has successfully obtained a sovereign fund investment, while CZ & Heyi have been promoting BNB memes on x and private alpha groups, in an effort to hype up and restore confidence in BNB chain. Their momentum seems to have been short-lived, as it only lasted a week. The flywheel appeaes to have stopped as soon as they stopped personally driving the engagement.