Iggy Azalea's Mother Iggy Coin

This is a US news story, published by Wired, that relates primarily to Iggy Azalea news.

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rapper Iggy Azalea

Wired

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Business

Business & Economics

Iggy Azalea, Caitlyn Jenner, Jason Derulo and other celebrities have all launched their own crypto coins

Summary

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58% Informative

In spring 2024 , rapper Iggy Azalea launched the Mother Iggy (MOTHER) coin.

For its emblem, she selected a picture of her derriere.

In aggregate, the memecoin market is now worth more than $100 billion .

In the same way that celebcoins had a moment, so did memecoins inspired by Donald Trump .

Memecoins have largely escaped the attention of US financial regulators under the Biden administration.

There is a potential future in which memecoins could be used by entrepreneurs as a vehicle to raise capital for earnest crypto projects without giving away equity.

But for now, they represent financial speculation in its rawest form.

A crackdown of some form is likely, industry watchers say, such is the amount of money flying around.

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