Drake Song Leak Spurs 3,000% Surge in Solana Token Market Cap
Drake Song Leak Spurs 3,000% Surge in Solana Token Market Cap

Drake Song Leak Spurs 3,000% Surge in Solana Token Market Cap

News summary

A duo of crypto livestreamers known as Bagwork allegedly leaked unreleased songs from rappers Drake and Future on Pump.fun, a Solana-based meme coin platform, leading to a surge in their meme token's value to a market cap of around $53 million. The incident drew the attention of Drake, who called fellow streamer Adin Ross during a live stream to inquire about the leak, expressing frustration and denying prior knowledge of the streamers. Bagwork's viral stunts and promotional efforts, including public appearances and streaming the unreleased tracks, helped the token spike nearly 3,000%, although it later retraced some of its gains. The duo reportedly earned over $83,000 in creator fees within two days without needing to sell tokens, benefiting from Pump.fun's platform rewards that share trading fees with content creators. The episode has sparked discussions on copyright issues and the rise of "creator capital markets" as livestreaming directly influences meme coin trading and profitability. Bagwork's continued high-risk antics and viral marketing highlight the growing intersection of crypto, livestream culture, and hip-hop music promotion.

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Last Updated
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