For the third time in a week, Andrew Kang, CEO of ScryDigital, is back in the headlines—this time, it’s not just for bad business decisions, but possibly for something illegal.
At precisely 11:00 a.m. today, Kang triumphantly announced the launch of “Kang Coin,” the latest must-have crypto currency that had investors scrambling to empty their wallets. Within minutes of the announcement, ScryDigital’s stock shot up like a meme stock on caffeine, with investors buzzing over the sudden surge. But, much like Kang’s reputation, the excitement didn’t last long. In a move that can only be described as “crypto magic,” Kang Coin plummeted just 30 minutes later, taking ScryDigital’s stock along for the ride.
INTRODUCING KANG COIN™! My new Crypto launching 11:30 (EST)! Trust me you DON’T want to miss this opportunity! BUY STOCK NOW!! #BuyTheDip #YesWeKang pic.twitter.com/KR2nWHDdVv
— Andrew Kang (@ScryDigital) September 11, 2024
The result? A crash so hard, it left investors staring at their screens in disbelief and reaching for a strong drink. Now, with stocks in freefall and Kang Coin worth less than a used napkin, furious investors are pointing fingers at Andrew Kang himself, accusing him of pulling the digital rug out from under them. Whispers of a premeditated scam are swirling, with some suggesting that Kang’s latest “business venture” might actually be a crash course in crypto fraud. If authorities decide this was more than just another day in the Wild West of crypto, Kang could be trading in his CEO title for a prison jumpsuit. As of now, both ScryDigital and Andrew Kang remain silent, though we suspect they’re probably as stunned as everyone else—or maybe just quietly deleting their Twitter accounts.