Friday, November 5, 2021

To Rug is now a verb (and sadly it has nothing to do with having sex on the floor)

OK, "rug" actually was a verb before (still not involving sex) but if you hear it these days it probably refers to the end of a crypto pump and dump.

Coffeezilla is a successful youtuber who specializes in exposing financial fraudsters and get-rich-quick schemes, particularly those involving crypto-currencies. In this episode on the rise and implosion of the Squid Game coin, he focuses most of his attention on the role of the mainstream media (CNBC, BBC) in helping pump the price up, then acting shocked when the obvious scam turned out to be a scam. 



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