Unchained

Bits + Bips: Iggy Azalea, $MOTHER, and Celeb Coins: Is This the Top of the Crypto Cycle? - Ep. 662

Jun 19, 2024
Guests Phil Bonello, a founding partner at Plaintext Capital, and Kelly Greer, VP of Trading at Galaxy, dive into the intriguing intersection of celebrity and crypto. They discuss Iggy Azalea’s MOTHER memecoin and her bullish stance on Solana, shedding light on the dynamics of liquid hedge funds and venture capital in the crypto landscape. Plus, they ponder the potential market top and the implications of obscure SEC rules that might impact major stocks like Apple and Nvidia. The potential for mainstream adoption of crypto in pop culture also takes center stage.
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ANECDOTE

Iggy Azalea's $MOTHER Origin Story

  • Iggy Azalea launched her memecoin $MOTHER to preempt a scammer.
  • This followed a similar scam involving Caitlyn Jenner, highlighting the risks in the celebrity crypto space.
INSIGHT

Crypto Skepticism

  • The crypto community often assumes big names entering the space are grifters.
  • This skepticism is understandable given past experiences but can hinder genuine innovation.
INSIGHT

Market Sentiment and Celebrity Coins

  • Negative reactions to celebrity coins reflect market sentiment.
  • The current sideways and down market contributes to negative energy and scrutiny.
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