Iggy Azalea’s Meme Coin Launch Marred by $2 Million Insider Trading Allegations

Following Caitlyn Jenner’s controversial meme coin launch, Sahil Arora, the “middleman” accused of scamming Jenner and rapper Rich the Kid, has targeted Australian rapper Iggy Azalea.Arora suggested his next celebrity collaboration for launching a meme coin would be with Azalea, utilizing Solana’s meme coin launchpad, pump.fun.Inside Iggy Azalea’s Meme Coin ControversyIn his Telegram group, he shared an address and encouraged members to send Solana (SOL) to participate in a presale for a new token named IGGY. He initially opened the presale to 100 wallets but increased the limit to 700 and then to 1,000.The presale wallet has amassed over $380,000 in cryptocurrency. However, investors claimed that they had yet to receive their tokens.During its debut, IGGY showed a strong performance. According to data from DEX Screener, it quickly reached a market capitalization of approximately $3 million. Yet, at the time of writing, IGGY is now trading at $0.00003907, with the market capitalization...