Just today, May 27.
The Southern District Prosecutors' Office in Seoul directly arrested a gang of 5 for manipulating the price of the Meme coin CATFI on the Solana chain.
Are you familiar with this play? After the token launch, they pumped it 1001x within 26 hours, and 6000 traders FOMO'd in, thinking they snagged a 100x gem. What happened? The project team spread their holdings across multiple wallets and created fake liquidity with wash trading, only to dump it after the pump. 256 victims lost 900 million KRW.
Here's the kicker: this is the first crackdown on DEX fraud since the enforcement of South Korea's Virtual Asset User Protection Act!
The regulatory hammer has swung from CEX to on-chain. How much longer can we keep launching tokens on pump.fun and raking in profits?
However, this 'pump-and-dump-and-run' script has been played under a different name in the traditional finance world for a long time.
#在币安广场聊传统金融
The tech sisters are diverging massively: who’s the stabilizing force, and who’s just a bubble of hype?
CATFI's playbook resembles some of the players in today’s tech sisters in the US stock market—just dressed up in suits and ties.
The real 'stabilizing force': Microsoft & Google
Why them? Because they don’t just make empty promises.
Microsoft's AI business revenue has skyrocketed to hundreds of billions; Copilot is no longer just a PPT toy but an essential tool for workers. Google Cloud is still on fire, with backlogged orders piled high—dinner for the next two years is already in the bag.
With real cash flow and a strong moat, it can weather both bull and bear markets. That’s what we call a stabilizing force.
Who’s the 'hype bubble': Tesla & Meta
Elon keeps saying, 'I’m not a car dealer; I’m an AI company.' But just look at that mountain of unsold inventory—is it a tech revolution, or just a concept oversold?
Meta is in worse shape, losing billions in the metaverse each quarter. Zuck claims he’ll keep pouring money in, but what Wall Street hates to hear is 'I don’t know when we’ll break even.'
The story sounds great, but when the tide goes out, the first to be exposed will be the ones caught without their swim trunks.
Just one last thing
In South Korea, they’re catching the obvious scammers. Meanwhile, Wall Street is quietly phasing out those 'suit-wearing con artists.'
Are you holding Microsoft or CATFI in your portfolio?