Marc Andreessen Sparks Memecoin Rally with $50K Grant
This is a segment from the 0xResearch newsletter.
Marc Andreessen Sparks AI Agent Rally
The memecoin GOAT, inspired by Andy Ayrey’s experiment with Claude AI models, was a precursor to recent developments. Marc Andreessen of a16z catalyzed a sector rally in July by sending a $50,000 “research grant” to Ayrey.
This established "AI agents on blockchains" as a key topic within Crypto Twitter.
12-Year-Old Rugs Memecoin
The QUANT memecoin was launched by a 12-year-old during a live stream, resulting in a $30,000 profit after dumping tokens. This event led to an $84 million market cap in two hours, leaving the developer with missed profits exceeding $4 million.
SEC’s Fake Bitcoin ETF Approval Tweet
<p.On January 10, 2024, the SEC's Twitter account was hacked, falsely announcing bitcoin ETF approvals, causing a price spike. Gary Gensler clarified the account was compromised.
A 25-year-old hacker used SIM swap techniques to execute the attack. Following this incident, genuine bitcoin ETF approvals occurred, contributing to a market pump before the Bitcoin halving.
Ansem vs. BitBoy for Crypto Fight Night
<p.A boxing match featuring crypto influencers Ansem and BitBoy materialized from a humorous proposal. The fight ended in a draw, notable for Bitboy’s post-match inhaler use, which became a meme.
SLERF Memecoin Creator Accidentally Burns Investor Money
<p.Developer Slerfsol raised $10 million for the SLERF memecoin but accidentally sent an equivalent amount to a burn address, destroying it irreversibly. He expressed regret on social media, stating he could not rectify the situation. Despite this setback, SLERF reached a $450 million market cap due to its newfound scarcity.