A high-profile creator coin experiment on Coinbase's Base L2 saw a token's valuation plummet by 67% from a $9 million peak, sparking widespread criticism of the SocialFi model's viability.
Crypto trading platform Websea burned over 3.23 million WBS tokens, valued at more than $5.01 million, as part of its ongoing deflationary strategy.
A trader reportedly profited approximately $1 million by exploiting unusual market maker activity in the BROCCOLI714 memecoin on Binance on New Year's Day.