Iggy Azalea has announced a bold move to burn her own cryptocurrency whenever a celebrity coin is identified as a scam, commonly known as a "rug pull."
Iggy Azalea has announced a bold move to burn her own cryptocurrency whenever a celebrity coin is identified as a scam, commonly known as a "rug pull." Azalea's initiative aims to foster trust and integrity within the crypto community, distinguishing her from other controversial celebrity figures.
In a recent discussion on X Space, Azalea expressed her commitment to the cause. "I just think it’d be fire to want to be something positive," she said. "Every time they start rugging, I just want to burn some of mine because I’m a celebrity in the space, and I know I’m going to get hated on for being here. So I’m just going to burn some every time someone comes that’s a celebrity and it’s looking like it’s clearly a rug. I’m just gonna burn."
The multifaceted artist also discussed her plans to ensure the credibility of her own memecoin, Mother Iggy (MOTHER). She aims to establish a market maker for her coin swiftly, stating, "I’m trying to have a market maker by the end of the day tomorrow."
Despite Azalea's efforts to bring legitimacy to MOTHER, the project has faced scrutiny. Bubblemaps, a supply auditing tool platform, alleged that insiders acquired "20% of the supply at launch" before Azalea publicly announced MOTHER. These insiders reportedly sold their holdings for $2 million shortly after.
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