Crypto

How I accidentally turned an i24NEWS host into a meme coin – i24NEWS

Published

4 months ago

January 13, 2026

How I accidentally turned an i24NEWS host into a meme coin – i24NEWS

Cryptocurrency markets are dangerously unregulated and susceptible to fraud.

That was the point of my report for Innov’Nation from January 6, 2026. Anyone can create a cryptocurrency token, invest heavily at the point of conception, promote it, then pull the rug- selling for a huge profit, whilst destroying the currency’s value and screwing over the investors you brought along for the ride.

The reason I did this was to bring attention to what’s known as “memecoins”. These are tokens, tied to existing cryptocurrencies like Bitcoin and Ethereum, but given the facade of viral emblems.

The most famous are the Elon Musk-approved Dogecoin, and cartoon-turned-right-wing dog whistle Pepe the Frog. I talked specifically about how people are manufacturing offensive memes about figures like George Floyd & Charlie Kirk and using it to promote their respective memecoins. But one little throwaway line that I said has come back to haunt me.

“Creating a cryptocurrency can take 5 minutes[…] you just need a snazzy name, like Lynncoin, a picture, a supply limit and bingo, you have created a new crypto token.”

Alongside this was an AI-generated image of Innov’Nation host Lynn Plagmeijer mocked up on a coin-like sphere. Lynn was sitting next to me when I generated this, and it was laughed off as nothing more than a tongue-in-cheek visual aid to show the absurdity of memecoins. And we went about our day without giving it a second thought.

Two days later, I woke up to a barrage of messages on X, formerly Twitter. Lynncoin had seemingly been wished into existence. Almost as if an angel knew that my massive ego loves being proven correctly, someone created a virtual commodity out of thin air that has the potential to defraud millions.

And this was what I was fearful of; accidentally creating a vehicle that has allowed anonymous individuals to carry out mass fraud with no retribution. Why would someone make this coin? Who is stupid enough to invest in it? And, most importantly, is it a scam?

I tracked the person who created the token on X – a French-Thai man who goes by the online pseudonym Trax. He did acknowledge that ‘most memecoins are scams’, but was adamant that his was not. He said that he created it simply because I went on television and said that the lack of regulation of memecoins means that they are likely scams. He thought it would be funny if he made a meta token, mocking my report. And, credit where it’s due, that is very funny.

To prove that it wasn’t a scam and that ‘memecoins can be used as a force for good’, Trax created a link to purchase Lynncoin on a platform called Bags, which gives creators a percentage of the transaction fees of the coin. He offered to set it up in my name – a kind, albeit unethical offer. I politely declined and said that he should give the money to charity, specifically The Auschwitz Museum (this raised $400 for Auschwitz, who have been contacted to collect their “donation”).

But Trax did say that he bought at a low price, and the creation of Lynncoin was so he could piggyback on a trend and make money from it. I do not know how many Lynncoins he bought, how much profit he has made, or if he is using this as a pump and dump scheme. It could be a little bit of fun, or it could be mass fraud. And the fact I don’t know highlights the problematic lack of transparency with memecoins, and the crypto market as a whole.

But regardless, I didn’t think Lynncoin would take off. It’s a stupid concept, and only stupid people would invest in it, right? Right?!

After a slow start, it was picked up by major X accounts who specialize in the trade of memecoins. On January 11th, the price of Lynncoin spiked to 0.0003132 USD – which may not sound like a lot, but it was an approximate 8,500% increase in a 24-hour period. So if you invested $1,000 in Lynncoin (which inexplicably, many people did), you could in theory sell for $85,000. For reference, the largest single day increase in the Dow Jones Industrial Average was 15.34% in 1933. Even Bitcoin’s record daily jump was 47% in April 2013. Yet, here you have a coin that some anonymous French-Thai guy created, bearing the face of Lynn Plagmeijer, making the most absurd jump I have ever seen.

But pride comes before the fall, and the fall was drastic. By 18:00, dozens of traders were shedding thousands of dollars selling Lynncoins, and all the gains had been wiped out. And it is impossible to find out who were the ones buying, who were the ones selling, other than an anonymous jumble of letters comprising a screen name on the tracking website Dexscreener.

In total, more than half a million dollars has been traded with Lynncoin, some making a profit, others losing a fortune. At the time of writing, the value is now a fraction of what it was, down 80-90% from its peak. In theory, it could get back to previous levels, but if it does, history shows it will not sustain. It will be a flash in the pan, whilst people pump their money into it for a few hours, create value, and sell it at a huge profit margin.

Pump-and-dump schemes are highly illegal, and can lead to fines and prison sentences. But the lack of transparency makes it hard to prosecute. Is Trax committing fraud? I want to believe not, he seems like a nice guy. But I cannot say for certain. And that is the crux of why I made my original report, and the major issue in this burgeoning, and highly lucrative financial industry.

Viewer makes meme coin after i24NEWS segment on crypto fraud | Innov’Nation

Pump and dumps, or rug pulls, are not new. Global icons from Javier Milei to Hailey “Hawk Tuah” Welch have been accused of scamming their supporters through crypto. Even during the brief existence of Lynncoin, former New York Mayor Eric Adams created a token, the profits of which he said would be to ‘fight antisemitism’.

Yet just 30 minutes after he launched it, millions of dollars of liquidity was withdrawn, destroying the value of the coin before it had a chance to ‘fight antisemitism’.

Do I think you should invest in Lynncoin? That’s like asking if you should go into a casino and put all your money on the roulette table. Yes, you can win big.

But more likely than not, you will lose even more. And, most importantly, it is a gamble, so if you do choose to invest, only put in as much as you are willing to lose. I’m sure it’s hard enough telling your loved ones that you gambled away all your money, but it would be even more embarrassing telling them you lost it on Lynncoins.

Crypto

ADI Foundation and Settlemint Launch ADGM Tokenization Rail for $30.9B RWAs

Published

6 hours ago

May 14, 2026

Press Room

ADI Foundation and Settlemint Launch ADGM Tokenization Rail for .9B RWAs

Integrated Infrastructure for Institutional Adoption

ADI Foundation and Settlemint announced a partnership on May 13 to launch a new digital securities infrastructure on the ADI Chain, aiming to streamline the tokenization of assets within the Abu Dhabi Global Market (ADGM) regulatory framework.

The collaboration integrates ADI Foundation’s compliance-ready Layer-2 blockchain with Settlemint’s digital asset lifecycle platform (DALP). The combined system is designed to handle the entire lifespan of a digital security, from initial token creation and on-chain recording to post-trade servicing and management.

The move addresses a primary hurdle for institutional investors: the difficulty of coordinating issuance, trading, settlement, and custody across fragmented jurisdictions. By providing an integrated architecture, the partners aim to offer a unified pathway for institutions to move traditional assets onto the blockchain.

“The future of investment and trading will not only be digitized, but also available 24 hours a day, 7 days a week,” said Andrey Lazorenko, CEO of ADI Foundation. “Our partnership brings together market infrastructure, institutional-grade blockchain, and a digital asset lifecycle platform to tokenize equities and trade them on secondary platforms.”

According to a media statement, the platform utilizes Settlemint’s implementation of the ERC-3643 standard—a protocol specifically designed for security tokens to ensure compliance with regulatory requirements. While the partnership is initially focusing on equity tokenization, the infrastructure is built to support a variety of other tokenized securities and financial instruments, pending regulatory approval.

The announcement comes as institutional interest in real-world assets ( RWAs) on-chain continues to accelerate. According to data from RWA.xyz, tokenized RWAs currently represent approximately $30.92 billion in on-chain value, with tokenized U.S. Treasuries accounting for roughly $15.20 billion of that total. Market analysts expect this trend to scale significantly. A 2026 analysis by BCG suggests the digital asset market could surge from $0.6 trillion in 2025 to $18.9 trillion by 2033.

Matthew Van Niekerk, co-founder and president of Settlemint, characterized the partnership as a “blueprint” for the broader financial industry.

“This partnership proves that regulated, multi-asset tokenization at national scale on public blockchains is not just feasible, but live,” Van Niekerk said. He added that the infrastructure is intended to be a model that central securities depositories (CSDs), exchanges, and clearing houses can adopt to integrate digital assets into existing operations.

Crypto

BlackRock COO: Cryptocurrency Demand Surpasses Firm’s Expectations, Signaling a Shift in Value

Published

18 hours ago

May 13, 2026

Press Room

BlackRock COO: Cryptocurrency Demand Surpasses Firm’s Expectations, Signaling a Shift in Value

BlackRock Chief Operating Officer Rob Goldstein revealed that demand for cryptocurrency has significantly exceeded the firm’s initial projections, marking a notable shift in institutional sentiment toward digital assets. Speaking during a Binance online stream, Goldstein addressed the market’s reception of BlackRock’s spot Bitcoin exchange-traded fund (ETF), IBIT, and outlined the asset manager’s broader strategic outlook on blockchain-based finance.

Demand Driven by Value Proposition, Not Speculation

Goldstein emphasized that the global demand for IBIT was stronger than anticipated, describing the interest not as fleeting speculative enthusiasm but as a recognition of a new value proposition rooted in emerging technology. He noted that investors are increasingly viewing cryptocurrency as a distinct asset class with potential for long-term portfolio diversification, rather than a short-term trading vehicle. This perspective aligns with BlackRock’s broader push to integrate digital assets into traditional investment frameworks.

Tokenization and the Future of Capital Markets

Goldstein predicted that the tokenization of capital market instruments remains in its early stages, with future growth expected to be measured in multiples rather than incremental percentages. He argued that blockchain infrastructure could fundamentally reshape how assets are issued, traded, and settled, reducing friction and increasing transparency. This view is consistent with growing industry interest in real-world asset (RWA) tokenization, a trend that major financial institutions are beginning to explore.

AI Agents and Digital Rail Transactions

In a forward-looking comment, Goldstein suggested that artificial intelligence agents will eventually conduct transactions directly via digital rails, or blockchain infrastructure, rather than logging into traditional bank accounts. This vision points to a future where automated systems interact with decentralized finance protocols, potentially streamlining operations across supply chains, payments, and asset management. While still conceptual, the statement underscores BlackRock’s attention to the convergence of AI and blockchain technologies.

The Education Gap Remains a Key Obstacle

Goldstein identified the primary barrier to broader adoption as a lack of investor education regarding the technical aspects of virtual assets and efficient portfolio allocation. Many institutional and retail investors remain uncertain about how to evaluate cryptocurrencies, assess risks, and integrate them into existing investment strategies. BlackRock’s emphasis on education suggests that the firm sees informed participation as critical to sustainable market growth.

Conclusion

BlackRock’s acknowledgment that cryptocurrency demand has exceeded expectations carries significant weight, given the firm’s status as the world’s largest asset manager with over $10 trillion in assets under management. Goldstein’s comments reflect a maturing institutional perspective that views digital assets not as a passing trend but as a structural evolution in finance. For investors, the key takeaway is that major financial players are moving beyond skepticism and actively building infrastructure for a tokenized future, even as educational gaps persist.

FAQs

Q1: What did BlackRock’s COO say about cryptocurrency demand?
Rob Goldstein stated that demand for cryptocurrency, particularly through BlackRock’s IBIT Bitcoin ETF, has exceeded the firm’s expectations, driven by a recognition of its value as an emerging technology rather than mere speculation.

Q2: What is BlackRock’s view on tokenization?
Goldstein described tokenization of capital market tools as still in its infancy, with future growth expected to be exponential. He believes blockchain infrastructure will play a key role in transforming how assets are managed and traded.

Q3: What is the biggest obstacle to cryptocurrency adoption according to BlackRock?
The main challenge is a lack of investor education on the technical aspects of virtual assets and how to allocate them effectively within a portfolio, according to Goldstein.

Crypto

MEXC Commits to 1,000 BTC Purchase as Guardian Fund Targets $500M Expansion

Published

1 day ago

May 13, 2026

Press Room

MEXC Commits to 1,000 BTC Purchase as Guardian Fund Targets 0M Expansion

Key Takeaways

BTC and USDT to Serve as Dual Reserve System for Market Stability

Crypto exchange MEXC is deepening its focus on reserve strength and user protection, announcing plans to expand its Guardian Fund fivefold to $500 million and acquire 1,000 bitcoin as part of a broader risk management strategy.

The exchange said the initiative will be rolled out over the next two years and is designed to create a dual-reserve structure combining liquid stablecoin holdings with long-term BTC reserves. The framework is intended to bolster platform stability and improve resilience during periods of market stress.

The announcement comes as MEXC continues to attract new capital and users. According to data from Defillama, the exchange recorded $271.6 million in net inflows over the past month through May 11, reflecting increased trading activity and participation across global markets.

Under the revised structure, the Guardian Fund will continue to hold significant USDT reserves to ensure immediate liquidity and operational flexibility. The addition of bitcoin is intended to provide a longer-term store of value capable of preserving purchasing power across market cycles.

Transparency Remains Key for MEXC

MEXC said the strategy is part of a disciplined reserve management approach rather than a reaction to short-term volatility. The company framed the expansion as an effort to build infrastructure comparable to institutional-grade financial safeguards increasingly expected in the digital asset industry.

“Trust has to be capitalized, not just claimed. The expansion of the Guardian Fund and the addition of bitcoin reserves reflect our commitment to building protection infrastructure that helps users access infinite opportunities with greater confidence,” CEO Vugar Usi said in a statement.

The exchange also emphasized transparency. Wallet addresses tied to the Guardian Fund’s USDT and bitcoin holdings have been disclosed publicly, allowing users to verify reserve balances on-chain in real time. The move highlights a broader trend among large trading platforms seeking to differentiate themselves through stronger balance sheets and more visible proof-of-reserves mechanisms.

For MEXC, the Guardian Fund expansion forms part of a wider push to position itself as a global platform capable of supporting long-term growth. The company said the initiative aligns with its broader strategy of improving transparency, strengthening risk management, and protecting users during periods of heightened market uncertainty.