2026-01-13 13:35:53

Former NYC Mayor Eric Adams got swept up in the memecoin craze, launching a token that hit an eye-popping $580M market cap. Then reality hit hard—the thing cratered 80% in minutes. Nearly half a billion dollars in value just evaporated. The real kicker? Within an hour, someone pulled the entire liquidity pool, draining roughly $3.5M in USDC from the pair. Classic memecoin playbook: hype, peak, and then the rug gets yanked. It's a brutal reminder of how fast things can unwind when there's nothing but hot air backing the trade.

MEME-3,75%

USDC-0,02%

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GasWhisperer

· 16h ago

watched the $580M vaporize in real time... mempool was screaming warnings nobody read. classic liquidity extraction pattern, textbook stuff honestly

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InscriptionGriller

· 01-13 14:05

Is the Mayor of New York also involved in cutting leeks? Haha, now it's the turn of the elites to take action, with 80% instantly evaporated. This is what you call democratic harvesting, brother.

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LayerHopper

· 01-13 14:04

Uh... 580 million market cap gone in an hour, this is memecoin for you, hilarious

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MetaMisery

· 01-13 14:01

Eric Adams is搞 memecoin? Laughing out loud, even politicians are starting to harvest the leek now.

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BearMarketLightning

· 01-13 14:01

Politicians also play rug pull, hilarious. This is the democratization of Web3, haha.

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HodlVeteran

· 01-13 13:52

Haha, even the Mayor of New York City can't escape the fate of retail investors. Five hundred million dollars evaporated in just a few minutes... When I went all-in on altcoins back then, it was the same story. Now seeing others fall into the trap, I can really relate [helpless]

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NFTArtisanHQ

· 01-13 13:48

ngl the whole thing reads like a benjamin walter essay on mechanical reproduction, except everyone's the reproducible asset here. eric adams as unwitting participant in his own tokenomic critique—chef's kiss

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