Max Burwick, a crypto-focused lawyer, reports a surge in memecoin-related cases, with complaints rising significantly in recent weeks. Clients are seeking compensation for losses, particularly involving the $FRIEND token linked to the friend.tech project. Speculative investments in memecoins have been common in past crypto cycles, and this trend appears to be intensifying. A new platform, pump.fun, aims to mitigate scams like rug pulls by enforcing fair launch practices without pre-sales or misleading allocations. Burwick is optimistic about recovering funds, noting that many memecoins can be classified as securities under the Howey test, especially when promoted by celebrities. Ongoing legal actions, such as against Shaquille O’Neal, underline the risks for celebrities involved in failed NFTs or memecoins. Burwick emphasizes that courts' interpretations of NFT cases may set precedents for future memecoin lawsuits, indicating that the legal landscape surrounding cryptocurrencies is evolving rapidly.

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