From the Editor's Desk

The Memecoin Shenanigans Are Just Getting Started

In spring 2024, rapper Iggy Azalea was casting about for a concept that she could try to transmute into a hit crypto coin. It had to be memeable—that is, easily remixed and riffed upon—and it had to be attention-grabbing.

On May 29, Azalea launched the Mother Iggy (MOTHER) coin. For its emblem, she selected a picture of her derriere. Within two weeks, the coin had reached a total value of $240 million. (At the time of writing, MOTHER is worth around $50 million.)


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