Venmo co-founder launched a memecoin (JELLYJELLY) to raise money for a new venture (something something video sharing something something). This kind of thing used to be considered obvious securities fraud but going forward this is how all companies are going to raise money. Why issue shares of stock (which makes you beholden to very annoying regulatory bodies like the SEC) when you can just launch a memecoin and make millions instantly without creating any kind of product?

Oh, and it’s pretty obvious Solana memecoin bros on Twitter with high follower counts are getting tipped off and engaging in insider trading. All of this is perfectly legal in a post TrumpCoin era.