Memecoins
Polygon CEO Defends Dog-Inspired Memecoin
Polygon Labs (MATIC-USD) CEO Marc Boiron is under fire for backing a memecoin inspired by his pet, but he’s not backing down. Memecoins can be inspired by anything, even pets from crypto the big guys. With the rise of the memecoin market, this trend took off on the Polygon network, sparking controversy over allegations of insider trading. Critics claim that insiders pump and throw these tokens at unsuspecting community members.
Boiron bites back
Things got spicy when Polygon CEO Marc Boiron actively supported a new memecoin inspired by his dog. Responding to criticism, Boiron didn’t hold back: “Honestly, I’m going to have fun when I want to have fun. No one can decide when I’m allowed to have fun and when I can’t,” he posted on X.
The timing of Boiron’s posts about the NIGHT memecoin, inspired by his dog, drew heavy criticism. A community member asked, “Do you think this was a good idea?” Day after day, a huge thread accusing insiders of spinning a coin with basically the same narrative. Someone launches another insider piece with the same narrative, just another executive’s pet?
An elephant in the room
According to DailyCoin, the latest furor around Polygon stems from the memecoin ELE, supposedly inspired by Polygon co-founder Sandeep Nailwal’s pet elephant. Rahul Ghagas, founder of Aerius Labs, claimed that several Polygon Labs insiders, including advisor Kenzi Wang and chief strategy officer Sanket Shah, promoted the project behind the scenes. Ghangas claimed these executives exploited developers for months without pay while slowly pouring into the community.
Despite the negative reactions, Boiron remains defiant. His unapologetic stance and continued support of NIGHT has not assuaged the community’s concerns. Critics continue to question the integrity of Polygon Labs and its leadership amid these allegations.
Polygon Labs has not yet responded to requests for comment.
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