Markets· ★★★· bearish·

Meme coin WALLET on Robinhood Chain crashes 90% after Robinhood warning

  • —WALLET's market cap fell from $84 million to ~$9 million after Robinhood's disclaimer
  • —The token was launched via the Noxa factory on Robinhood Chain, with a total supply of 1 billion
  • —Its rise was fueled by rumors linking the deployer's wallet to Robinhood infrastructure
  • —Robinhood has integrated Blockaid to flag suspicious contracts
Why it matters: It shows the risks of meme coins on new networks: infrastructure branding does not mean token endorsement, and holders bear the losses.
Source: Crypto Briefing
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