Summary: The crypto market is continuing its slump, exacerbated by news of South Dakota's Bitcoin Reserve bill. In the midst of this, memecoin activity has emerged with FTX founder Sam Bankman-Fried making a social reappearance. However, a fake memecoin announcement by a scammer using Bankman-Fried's name was quickly deleted. This comes after a series of fake memecoin launches and rug pulls, including the infamous Libra token promoted by Argentine president Javier Milei. Other legitimate tokens, such as those associated with Donald Trump and Melania Trump, also saw surges followed by price drops, causing losses for investors. The scammer behind the fake memecoin claimed to be donating revenue proceedings, similar to Trump. Additionally, speculations about Kanye West selling his X account led to concerns about memecoin rug pulls.



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