Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»23,300% increase? How the FTX Founder’s Sentencing Sparked the Memecoin Craze
ALTCOIN NEWS

23,300% increase? How the FTX Founder’s Sentencing Sparked the Memecoin Craze

By Crypto FlexsMarch 29, 20242 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
23,300% increase?  How the FTX Founder’s Sentencing Sparked the Memecoin Craze
Share
Facebook Twitter LinkedIn Pinterest Email
  • Former FTX CEO Sam Bankman-Fried has been sentenced to 25 years in prison for fraud.
  • Memecoin, like Sam Baseman Fraud, reflects trends in thematic tokens.

In a significant development, former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison for fraud, marking a historic moment for the markets. Amid this chaos, just hours before the sentencing, a memecoin called Sam Baseman Fraud, using the ticker FTX, was launched on the Coinbase layer 2 network Base.

Additionally, in just seven hours, FTX memecoin surged more than 23,300%, reaching a peak market capitalization of $1.5 million on March 28, according to data from DexScreener. However, many memecoins have fallen quickly, typically by more than 85% within 3 hours.

Regarding the same point, @CryptoPatel Highlighted Technical Analyst;

“The misuse of billions of dollars led to the collapse of both FTX and Alameda Research, marking one of the most dramatic collapses in cryptocurrency history.”

Emergence of SBF Memecoin

Shortly after the sentencing, another SBF-themed memecoin, Som Bonkmon Fraud, appeared on Solana (SOL). It soared to a market capitalization of $20 million, an 18,000% increase over its launch value of $30,000, but has since plummeted more than 95%.

It is currently trading at around $0.0008, slightly higher than the coin’s initial listing price.

mocking the scenario, @CryptoRand famous,

“Facts for when #SBF launches in 2049:
– $BTC mining reward is 0,04882812.
– He would have missed at least six bull markets.
– The #BTC whitepaper is 40 years old.
– SBF probably ate 54,750 cucumbers in prison.
– $ETH gas fee is still $13725 per TX.”

Solana’s meme coin surges

The rise of Bankman-Fried themed memecoins reflects the trend of topical memecoins taking inspiration from cryptocurrencies and politicians like Boden and Tremp, capitalizing on the hype of the US election.

This trend was fueled by Solana’s Dog Wif Hat (WIF), which soared from $50,000 to $3.5 billion in four months.

All of this has led to the surge of Solana’s memecoins due to its low fees and high throughput. This brings Total Value Locked (TVL) to over $4.5 billion, matching Ethereum’s meme coin dominance.

Simply put, memecoins like Bankman-Fried themed tokens grow through hype rather than actual value. Therefore, as the memecoin craze continues, investors should proceed with caution and evaluate the fundamentals before jumping into these speculative assets.

Next: Option2Trade Onboards 13,500 Holders in Weeks, Dogecoin Whales Join Innovative AI Token

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The XRP market value surpasses Shopify, Verizon, and Citigroup. Whales sell 40m coins.

September 18, 2025

‘Fat Apps’ can lead the cryptographic story in the next few months.

September 11, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025
Add A Comment

Comments are closed.

Recent Posts

Navigating Policy & Regulation in Blockchain

September 23, 2025

Flipster Debuts Market’s First USD1 Perps For BTC, ETH, SOL, XRP, And DOGE

September 23, 2025

BYDFi Joins Korea Blockchain Week 2025 (KBW2025): Deepening Web3 Engagement

September 23, 2025

MEXC Brings Immersive Experience With ‘0 Fee Lounge’ To Token2049

September 23, 2025

Moonbirds And Azuki IP Coming To Verse8 As AI-Native Game Platform Integrates With Story

September 23, 2025

Buying NFT is like buying a Mickey Mouse T -shirt and an IP.

September 23, 2025

ETH-Based Little Pepe Raises $26M In Presale

September 23, 2025

Seoul Exchange, One Of Only Two Licensed Platforms For Unlisted Securities, Will Exclusively Use Story To Settle Tokenized RWAs

September 22, 2025

Bitcoin And Dogecoin Are Trending. Use TALL Miner To Earn A Steady $8,750 Per Day And Double Your Wealth.

September 22, 2025

BitMine Immersion (BMNR) Announces ETH Holdings Exceed 2% of Ethereum Network With ETH Holdings Exceeding 2.4 Million Tokens and Total Crypto and Cash Holdings of $11.4 Billion

September 22, 2025

CryptoLists.com Recognised As “Crypto Affiliate Of The Year” At SBC’s Affiliate Leaders Awards 2025

September 22, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Navigating Policy & Regulation in Blockchain

September 23, 2025

Flipster Debuts Market’s First USD1 Perps For BTC, ETH, SOL, XRP, And DOGE

September 23, 2025

BYDFi Joins Korea Blockchain Week 2025 (KBW2025): Deepening Web3 Engagement

September 23, 2025
Most Popular

Cardano, Shiba Inu and One Ethereum-based Altcoin have seen an ‘explosion’ of whale activity, Santiment reveals.

June 8, 2024

There’s a lot of money on Dogecoin and SHIBA INU RCO finance.

February 11, 2025

AI and accelerated computing are driving energy efficiency across industries.

July 23, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.