Polygon Labs (MATIC-USD) CEO Marc Boiron is catching heat for backing a memecoin inspired by his pet, but he’s not backing down. Memecoins can be inspired by anything, even the pets of crypto bigwigs. With the memecoin market booming, this trend has taken off on the Polygon network, sparking controversy over insider trading allegations. Critics claim insiders are pumping and dumping these tokens on 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 critics, Boiron didn’t hold back: “Honestly, I’m going to have fun when I want to have fun. Nobody gets to decide when I’m allowed to have fun and when I’m not,” he posted on X.
The timing of Boiron’s posts about the NIGHT memecoin, inspired by his dog, drew sharp criticism. One community member asked, “Did you think this was a great idea? Day after huge thread accusing insiders of launching a coin with basically the same narrative. Someone launches another insider coin with the same narrative, just a different exec’s pet?”
An Elephant in the Room
According to DailyCoin, the latest uproar around Polygon stems from the ELE memecoin, supposedly inspired by Polygon co-founder Sandeep Nailwal’s pet elephant. Rahul Ghangas, founder of Aerius Labs, alleged that several Polygon Labs insiders, including advisor Kenzi Wang and head of strategy Sanket Shah, promoted the project behind the scenes. Ghangas claimed these execs exploited developers for months without pay while slowly dumping on the community.
Despite the backlash, Boiron remains defiant. His unapologetic stance and continued support for NIGHT haven’t soothed the community’s concerns. Critics continue to question the integrity of Polygon Labs and its leadership amid these allegations.
Polygon Labs has yet to respond to requests for comment.
Is Polygon a Buy?
According to TipRanks’ Summary of Technical Indicators, Polygon is a Buy.
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