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MetaMask co-founder: Meme coin issuers should limit token sale methods, and the community should not be filled with users making personal threats

ChainCatcher news, according to Cointelegraph, MetaMask co-founder Dan Finlay has recently been experimenting with issuing meme coins on Ethereum and Solana to explore issues of user consent and trust in the Web3 ecosystem. He issued tokens named "Consent" and "I Don't Consent" on Ethereum and Solana through the Clanker bot and Pump.fun platform, respectively. The results of the experiment showed that rapid trading activity led to a significant inflation of the token's value, with Finlay's holdings at one point exceeding $100,000.However, the experiment revealed many issues within the meme coin ecosystem. Due to the lack of clear positioning and purpose for the tokens, investors continuously attempted to assign more meaning to them, with some even threatening Finlay or demanding a long-term development plan. Finlay likened this phenomenon to the issue of data usage consent in the AI field, specifically mentioning Bluesky's practice of using public posts for AI training without explicit user consent, calling for the establishment of a more robust trust mechanism and user consent framework in the Web3 ecosystem.Finlay stated that the meme coin ecosystem urgently needs better tools and incentive mechanisms. He suggested creating new systems that allow token issuers to have fine control over their tokens, including restricting trading within specific communities and providing structured sales methods. He emphasized that this is not only a matter of ethics but also about building better products, stating, "Applications should not become toxic asset pools, and communities should not be filled with users issuing personal threats; your shares should not be diluted by anonymous whales."

A Florida man impersonated Musk to commit fraud, with victims losing over $250,000

ChainCatcher news reports that, according to the U.S. police, a Florida man impersonated billionaire Elon Musk on Facebook and scammed over $250,000 from an elderly woman.Earlier this week, police arrested 56-year-old Jeffrey Moynihan, Jr. on charges of grand theft. The Bradenton Police Department stated that financial records show the victim, a woman from Texas, sent at least $250,000 to Moynihan's company in Florida. The victim's husband further told police that she had sent a total of "about $600,000" to Moynihan.Bradenton police said they arrested Moynihan at his home on November 19, noting that the real Elon Musk was likely busy with the sixth SpaceX Starship test flight that day.Police stated that the 74-year-old victim became friends on Facebook with an account named "Elon Musk" in 2023. The woman communicated with the fake account for "months," during which the impersonator encouraged her to invest in his business.The "fake Musk" promised the woman a $55 million return on her investment. However, police indicated that the money went directly into Moynihan and his company "Jeff's Painting and Pressure Washing, LLC" bank accounts.In body camera footage released by the police, Moynihan questioned why they had issued an arrest warrant when he was taken into custody. He asked in the video, "Grand theft? What did I steal?" It is currently unclear whether Moynihan has hired a lawyer. The Bradenton Police Department has not yet commented on this matter.
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