[NEW]: Enron returns with a memecoin - and the loss of more hundreds of millions

[howiieb]

Date

2025-04-02

Description

Much speculation surrounded the return of the Enron brand in late 2024; spearheaded as apparent performance art from Birds Aren't Real's founder Connor Gaydos, some of the company's schemes, including an "at-home nuclear reactor" were charming. Less charming was the launch of the $ENRON coin, which launched with a brutal locking scheme that designated 80% of the coins to the creators - and the rest locked for months from investors. Within 30 minutes, the market cap for the coin gained $400 million before losing $650 million, seemingly sniped by a group with insider information. Future engagement with Connor on the issue makes it extremely unclear whether there's still any veneer of irony behind the coin and its real financial effect, or the company's "grand ambitions in the energy sector".

Links

https://thedefiant.io/news/defi/enron-ip-owner-launches-predatory-memecoin

https://youtu.be/to2CjIKVfVI?si=7WRG875sfDXSEiKA

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Attribution name

Howie

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