The streamer $Kid, who happens to be 13-year-old, created a cryptocurrency and immediately pumped and dumped it during a live stream.
Per Decrypt, the young streamer created a "meme coin" named GenZ Quant ($QUANT) via the Solana-based platform Pump.fun and heavily promoted it. Once it picked up some attention, he immediately sold his stake in the currency for a profit and flipped off his viewers. The immediate pump-and-dump garnered him $30,000.
The move prompted a lot of reactions on social media, with many laughing off the viral clip and others criticizing the streamer for engaging in a pump-and-dump scheme despite not even being old enough to drive. He has since made two further meme coins, one named $Lucy and another named $Sorry.
"I can't stop laughin' bro this kid going to jail aged 13," wrote one user. "Future hedge fund manager," added another who included a photo of the kid flipping off his viewers. Other users suggested that this will encourage more regulatory intervention from the federal trade commission, which has already been cracking down on various cryptocurrency-related scams and schemes.
Plenty of major figures in the cryptocurrency space have been accused of misleading fans, including YouTuber Logan Paul, who recently sent a lookalike to a BBC interview when asked for comment about his involvement in a crypto scheme. Paul is alleged to have profited off his fans by misleading them about his interest in cryptocurrency, with some evidence suggesting that he promoted his crypto investments illegally.
Content creator Coffeezilla, meanwhile, has shared an extensive investigation into megastar YouTuber MrBeast's moves in the cryptocurrency space, accusing him of insider trading.
