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Saturday, November 23, 2024
$126 million went up in smoke, as another crypto dream burned to ash.
While FOLD holders watched their bags smolder, Manifold's founder Sam Bacha was busy stoking the flames with memes.
Roadmaps? Replaced with memes. Updates? Swapped for claims of being "Trump's new Crypto Czar."
The numbers tell the real story - FOLD cratered 98% from its $103 peak 2 years ago to pocket change at 64 cents the beginning of this November, turning a $128 million market cap into embers.
Even crypto veteran Cobie got FOLD-ed. "I invested in it in 2021, and at the top, it was worth like $5m and now it's worth 0," he told DL News. Good thing he can afford the tuition.
But this isn't Bacha's first fire sale. From Tennessee grad to failed freight tracking to DeFi's latest inferno, he's left a trail of scorched projects and charred wallets.
Their GitHub's gone cold while Manifold's Telegram burns hot with memes, and promises pile up like rejected transactions.
In an industry built on trust and transparency, one has to wonder: when did rugging become a slow-cooked specialty?
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We are all rekt.