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Iggy Azalea's Mother Memecoin Lawsuit: Half-Baked Promises
Description
Rapper Iggy Azalea faces a class-action lawsuit over her MOTHER memecoin, with investors alleging misleading promises of utilities and business links that never materialized. The token, launched in May 2024, reached a peak market cap of over $136 million but now stands at $1.3 million. Azalea, who remained active with the coin, is accused of promoting MOTHER as the fuel for her ecosystem, including a casino and telecom outfit, but failing to deliver. The lawsuit seeks damages and legal fees, with no comment yet from Azalea.
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