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In the crypto trade, the maneuver is known as a вЂњrug pull.вЂ™вЂ™ Pablo Heman (Brent Lewin/Bloomberg) At times this might seems like a good old-fashioned pump-and-dump in penny stocks. Shameless promotion is a hallmark of the Shit Coin hype cycle: Mint and promote, get in and get out - preferably ahead of all the people who just ran for the hills. The people who mint coins - The Creator - pay guys like Heman anywhere from US$5,000 to US$10,000 to plug their crypto.

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In his selfie-style, animated videos, Heman explains how to turn US$1,000 into US$1 million in a year trading cryptocurrencies. Someone like the former investment bank traderВ who goes by the TikTok nom de guerre Pablo Heman. There heвЂ™s been dreaming of building SuperDoge - with a cartoon Shiba-Inu-as-Superman mascot - into a global brand akin to Marvel Comics.ДЇinally, a third player: The Promoter. Like many in this game, from the creator of Bitcoin on down, Fab prefers to remain anonymous.ДЄ Canadian from Vancouver, Fab lives in Jomtien Beach, Thailand, south of Bangkok. Joining The Buyer up there beyond the footlights has been The Creator -В someone like this guy sitting in Thailand who just minted another digital will-вЂo-the-wisp, SuperDoge. He says he later made a bundle on Dogecoin, created in 2013 as a joke, until - pffft!В Gone too.ДЄnd yet he plows onward, along with countless others whoвЂ™ve been brought to this moment by confluence of forces including but not limited to SARS-CoV-2, iPhones, the pandemic economy, boredom, the Fed, YOLO, вЂњstimmies,вЂќ FOMO, TikTok, zero-commission trading, Elon Musk, greed, вЂњstonks,вЂќ вЂњSaturday Night Live,вЂќ Twitter and more. He says he was up and then, in a blink, he wasnвЂ™t. Hackney was there for that whole GameStop craziness back in February, when the Redditors briefly humbled the hedge-fund pros. From Wall Street squawk boxes to Reddit chat rooms, the question burns: Is this just aВ hiccup, or the beginning of something worse? Crypto, SPACs, tech stocks, the ARKВ ETFs: prices of all kinds of assets are falling, some spectacularly so. Over the past several days,В greed met reality and giddy markets collapsed again. There are millions of them out there, surfing the wild currents of an historic swell in retail trading. HeвЂ™s todayвЂ™s thrill-seeking amateur, goaded on by social media, whoвЂ™s prowling for profits on a Robinhood trading app, Mango Mai Tai or Woodford Reserve in hand. (Zack Wittman/Bloomberg)ДЄnd so Hackney has assumed the winking role of The Buyer. Eric Hackney in his cryptocurrency home office that he set up in a spare bedroom. The rich keep getting richer -В on FAANG stocks, private-equity carried interest, SPACs, Basquiats, Canadian lumber, Palm Beach oceanfront, Greenwich hedge funds, you name it.ДЄll the Eric Hackneys out there want is to wet their beaks a little, too, before everyone catches on to the joke. It takes maybe 10 minutes, no whiz-bang computers or complex math required.ДЄnd so it is that Eric Hackney, husband of Brittany, father of two, former bartender, becameВ the owner of 20,000,000,000 ASS Coins with his US$500 investment. Here even Luddites can mint digital tokens -В Shit Coins, in parlance of the trade - with a little off-the-shelf code. The stage on which these actors strut: Decentralized Finance, or DeFi, Crazy Town of the Everything Rally. He is also a stand-in for one of the three key players in todayвЂ™s laugh-or-youвЂ™ll-cry tragicomedy involving money of all kinds. LetвЂ™s see what happens,вЂ™вЂ™ Hackney thought.ДЄSS Coin: officially, thatвЂ™s Australian Safe Shepherd, one of those obscure virtual currencies that have YOLOвЂ™d and FOMOвЂ™d their way from crypto in-jokes to soaring - and now sinking - monuments to these strange financial times.ДЄnd hereвЂ™s the thing: In the midnight hour, in his Florida kitchen, thumbing through his high school yearbook and brooding over mightвЂ™ve-beens, Hackney is more than another dreamer longing to get rich quick. The Bud Light Mango Mai Tais were beginning to take hold when Eric Hackney - 38, unemployed and ticked off by watching other people get rich - figured, What the hell?В and laid US$500 on some crazy-sounding thing called ASS Coin.