Bubblemaps ties TRUMP whale “Naseem” to Kanye West’s YZY launch, as insider trading claims rise and the token plunges 73%.
According to the blockchain company Bubblemaps, the trader who gained $100 million off the TRUMP token in February is also the first investor in Kanye West’s YZY.
This information coincides with allegations of insider trading, with some analysts questioning the trader’s involvement.
TRUMP Whale May Have Engaged In YZY Insider Trading
The trader, identified as “Naseem,” was the first to purchase YZY coins, according to data from Bubblemaps.
In the past, Naseem gained notoriety for converting a $1 million wager on the TRUMP whale into a profit exceeding $100 million.
His return in another well-known token launch has sparked conjecture on whether his success is due to privileged access or skill alone.
The trader obtained about $1.2 million worth of YZY by investing $250,000 in USDC. Only a few seconds have passed since the token went live.
The wallet known as Naseem managed to get beyond YZY’s smart contract’s alleged “anti-sniping system” and snipe the first tokens.
Later, the wallet made several transactions totaling over $535,000 in value.
He repeatedly added and removed liquidity from a Meteora pool, resulting in USDC of $1.02 million.
Strong connections between this wallet and others previously linked to Naseem, including addresses involved with TRUMP whale and Libra launches, were found using on-chain research.
Bubblemaps publicly questioned how the same trader consistently gets first dibs on introducing significant meme coins.
On August 21, Kanye West introduced the YZY token to the Solana blockchain.
Its market valuation soared to almost $3 billion in hours, so it quickly attracted demand.
This was before a more than 70% decline to about $0.73. The coin saw a 1,400% increase, peaking at $3.163.
As Prices Plummet, Whales Dominate YZY Supply
YZY token ownership is highly concentrated, according to on-chain data.
The top six wallets hold more than 90% of the supply.
Naseem and other early investors still own $600,000 in YZY after making roughly $800,000 in earnings.
Another significant holder made $1.3 million in unrealized gains after spending $2.2 million to purchase 2.7 million tokens at an average price of $0.82.
In the meantime, several retail wallets have suffered significant losses, one of which lost $1.8 million.
According to Nansen statistics, 13 wallets were locked in $24.5 million in earnings before being distributed.
According to TradingView data, YZY MONEY (YZY) has experienced a decline of 7.33% over the past day.
Its overall losses for the week now stand at 73%.
This raises concerns about insiders’ influence over the enterprise and demonstrates how they profit from investments.
TRUMP’s and YZY’s situations are quite comparable.
Smaller investors experienced substantial market swings in both situations, while a few traders made significant gains early on.
According to Bubblemaps, there is a reason why Naseem’s wallets in TRUMP and YZY intersect.
