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A recent analysis has raised alarm about celebrities launching cryptocurrencies, after Caitlyn Jenner’s significant profit from digital currency projects. Over the past four days, Jenner has earned approximately 2,381 Solana (SOL), which translates to approximately $405,000, by launching and trading 12 coins on the Solana blockchain.
On May 27, Caitlyn Jenner launched a cryptocurrency token called $jenner. Initial records indicate that she spent 1.3 SOL (about $221) to acquire $44.56 million in Jenner tokens on the Pump.fun platform. She then sold these tokens for 253 Solmaking a profit of 252 soles, or approximately $43,000.
Patterns of suspicious transactions
After the sale, Jenner transferred the profits to two different addresses. It is worth noting that one of these addresses, “85feY8…soLxYd”, was identified as a deposit address on Binance. Over the past few days, this address has seen a flurry of activity, with multiple transactions linked to newly created addresses, indicating a pattern of planned revenue transfers.
The analysis revealed that Caitlyn Jenner systematically created new addresses to launch and profit from meme currencies. The consistency of these transfers to a single Binance deposit address made the transactions particularly straightforward.
The scenario surrounding Jenner’s activities highlights the potential risks associated with celebrity-backed cryptocurrencies. Experts urge potential investors to be cautious and conduct thorough research before investing in tokens that are subject to similar speculative activities.
