Rug Pulls, Stable Coins and Selling the American Presidency

Rug Pulls, Stable Coins and Selling the American Presidency

A rug pull occurs when a ‘meme’ or ‘shit’ coin is created, investors pour in, and the price spikes — at which point the early stakeholders sell and tank the coin’s value, as happened with the $TRUMP token.

Nelk Boys Sued Over $23M ‘Metacard’ NFT Rug Pull

A class action lodged in Orange County Superior Court targets the Nelk Boys—YouTube prank duo Kyle Forgeard and John Shahidi—accusing them of “masquerading as entrepreneurs” while siphoning $23 million from fans through the sale of their Full Send Metacard NFTs. Lead plaintiff Andrawes Husary invokes California’s Unfair Competition Law rather than federal securities rules, a […]