Insiders Made $1M, Outsider Lost $111K in 5 Minutes

By: bitcoin ethereum news|2025/05/03 12:15:01

TL;DR The cryptocurrency space, which sometimes reeks of degenerates, has struck again. In the past few days, a meme coin named after the bishop of Rome and the leader of the Catholic Church has exploded in popularity. In the past several hours alone, a few big moves made the CT news, with insiders allegedly dumping, while one investor lost over $110,000 in minutes. With exchanges such as GateIo and MEXC rushing to add the new meme coin sensation for trading for their users, it’s no wonder that the asset’s value shot up by several thousand percent in hours. According to some reports, its market cap exceeded $300 million at one point before it crashed. It’s hard to verify this data on independent third-party data aggregators, such as CoinGecko and CoinMarketCap, as it’s missing at press time. CoinGecko even says it has removed the POPE coin from its platform. The meme coin’s website claims that 35% of the 1B max supply will go to the Catholic Church. 25% will be for creators and marketing, and only 100 million will be for public distribution. It also asserts that it was created “in support of the Pope and the Catholic Church, with proceeds going to the church and its initiatives around the globe.” “POPE was created to support a future Pope who champions cryptocurrency and decentralization-fostering empowerment, global impact, and spiritual connectivity,” the website also reads. Lastly, the slogan is “a meme coin so holy, it blesses every transaction.” Not sure how blessed was this transaction by a developer or an insider who made over $1 million in two hours by dumping tokens to the community. The POPE madness also resulted in a substantial loss for one trader who decided to FOMO in. According to Lookonchain, they lost $111,000 in just under five minutes. Don’t FOMO trade. This guy lost $111K on $POPE in under 5 minutes. He spent 200K $USDC to #FOMO buy $POPE , but right after his purchase, the price dropped sharply. In a panic, he sold for just $89K—burning $111K in minutes.https://t.co/R27uhqIzA4 pic.twitter.com/TkYXH5bPPc — Lookonchain (@lookonchain) May 3, 2025 LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin! Source: https://cryptopotato.com/pope-meme-coin-madness-insiders-made-1m-outsider-lost-111k-in-5-minutes/

In the next decade, the biggest evolution of Bitcoin is precisely "responding to change with invariance." The four-year cycle is giving way to capital flows such as ETFs, corporate and sovereign reserves, and bank credit, while digital credit and digital currency will grow layer upon layer on top of...

Forbes Special Report: Stablecoin cross-border payments are faster now, but not cheaper yet

Cross-border payments using stablecoins are rapidly expanding, bringing speed and accessibility, but due to insufficient institutional liquidity, they have not yet delivered on their promised cost savings. The technology has been validated, and regulations are improving, but the industry has not yet...

Li Feifei's latest long article: When video generation, robots, and NVIDIA all claim to be world models, we need a taxonomy

Language gives machines a way to talk about the world. The world model is the means by which machines ultimately understand, imagine, reason, and interact with it.

Blaming the desolation of the cryptocurrency world on the rise of AI is a form of intellectual laziness

The emergence of giants signifies a mature business model. Although it will reduce speculative space, there is also enough room for error, allowing for the continuous emergence of new forces.

The impact of OUSD on Circle, Tether, and Paxos: not a single negative factor, but a more complex reshaping of competition

OUSD will not be the last new competitor; Circle needs to respond more actively in terms of products, distribution, and ecosystem collaboration.

A valuation of 8 billion dollars, doubling in 8 months! What makes the crypto-friendly bank Erebor Bank stand out?

Erebor is a high-profile experiment taking place at the intersection of banking, cryptocurrency, and industrial policy.

340 billion valuation: Li Yanhong's largest IPO, a seat in Kunlunxin's shares is hard to come by

As a core asset in Baidu's AI landscape, Kunlun Chip is expected to exceed Baidu's market value after going public, becoming an important bargaining chip in its turnaround battle.

Stablecoins are the "royalists" of the crypto world: Open USD brings the old currency system into play

The emergence of Open USD has shifted the competition for stablecoins from the market struggle of crypto startups to a battle for infrastructure involving traditional finance, payment networks, technology platforms, and public chain ecosystems.

Cape Verde 2-3 Argentina: The Underdog Team That Stunned the World in Defeat

Cape Verde's run ended in a 3-2 defeat to Argentina, but their journey — three unbeaten draws, one heroic goalkeeper, and a fight that pushed the defending champions to the brink — is the kind of story markets recognize too: small caps can rattle blue chips long before anyone expects it.

Semiconductor stocks plummet, yet Anthropic wants to create a 2nm chip

Abandoning TSMC and teaming up with Samsung. Anthropic launches a self-developed 2nm chip program, challenging Nvidia and starting a battle to break through computing power costs.

Where is Zhao Changpeng's billion-dollar investment going? YZi Labs' investment landscape fully revealed

Zhao Changpeng's billion-dollar new "family office" YZi Labs investment landscape revealed: 70% of the funds are committed to the crypto ecosystem, while 30% are cross-industry bets on AI and biotechnology, launching a new capital experiment in the post-Binance era.

Ethereum Foundation Report: A Basic Guide to Ethereum for Governments and Financial Institutions

The Ethereum Foundation has released this non-technical introductory report aimed at government officials, central banks, regulators, and corporate decision-makers, explaining how Ethereum works, how it is governed, how it differs from other blockchains, and how institutions and governments are alre...

A pre-announced harvesting case: After the cryptocurrency price dropped by 99%, the public chain Saga exited to transform into AI

True failure often isn't a single price drop, but rather a pricing mechanism that repeatedly rewards those who tell stories while repeatedly punishing those who believe in the stories.

When American giants collectively "defect" from Chinese AI models

Coinbase CEO publicly stated: the company has fully switched its AI to a Chinese model, cutting expenses in half while usage has doubled. Snowflake and Lindy are also doing the same thing—an unnoticed "AI model migration wave" is happening.

BIS Report Compliance Observation: The Real Risks of Stablecoins, Not Just "Depegging"

The issue with stablecoins is not just whether their price will decouple, but whether they can be integrated into a recognizable, monitorable, accountable, and regulated financial system.

Portugal 2-1 Croatia: Ronaldo's 20-Year Knockout-Stage Drought Ends With a Debt Finally Collected

Portugal beat Croatia 2-1 in the 2026 global football championship's knockout rounds as Ronaldo scored his first-ever knockout-stage goal, Gonçalo Ramos struck a stoppage-time winner, and VAR ruled out a late equalizer for offside.

Bitcoin Price Prediction July 2026: Will BTC Recover to $70K or Drop Below $55K?

Bitcoin price prediction for July 2026: Can BTC recover to $70,000 or fall below $55,000? Explore ETF flows, key support levels, Fed outlook, and our Bitcoin forecast.

A South Korean company that learned the strategy of hoarding coins, from a bull market to delisting?

When the overall momentum of the Korean stock market is strong, this batch of cryptocurrency concept stocks, branded as the "Korean version of Strategy," finds itself at a crossroads of life and death.

Strategy Founder: The Next 10 Years of Bitcoin