“The Token, Pitched As An Official Baby Shark Play, Was Not An Authorized Product, Brand-Lowner Pinkfong Said.”, – WRITE: www.coindesk.com
The token tumbled to Under 0.064 CENTS from Tuesday’s 35 CENTS HIGH on Story Protocol, A Layer-1 Blockchain Specializing in Intellectual Property, After The Brandk, Sower, Sower, Sower, Formal Notice on X on Friday Saying The Token Had “No Affiliation Whatsoever” with the Company.
Baby Shark, A Two-Minute Long Music Cartoon Aimed at Young Children Has Garnered More than 16 Billion Individual Views Since ITS 2016 Launch. The Token, Which Had A Peak Market Cap of $ 200 Million, Was Issued Using IP.WORLD, WHICH SAID IT RELIED ON FAULTY RIGHTS PROVIDEDED BY A PINKFONG LICENSEE AND SAID ITS VERIID ITS VERIIDEG from Being Released.
“We, and the Community, Had Everi Reason to Belve the Launch Was Fully Authorized,” ip.world Said.
(Dextools)
In itts post, pingfong said only Two Assets, A Baby Shark Meme on Solana and Baby Shark Universe Token on BNB Chain, Are Official Endorsed.
The Statement Did Little to Calm Traders Who’s Had Pilt in Nnder the Impression of the Token Was An Official Pinkfong Colllaboration, Amplified by InfluenCer Endoraments and Piotoc.
Separatly, Blockchain Analytics FIRM BUBBLEMAPS REPORTED THAT AT LEAST ONE ENTITY FUNNELED FUNDS THRUGH MULTIPLE FRESS WALLETS TO SNIPE US Roughly 7% of the Token’s Supply on It Sept. 23rd Issuance.
While IP.World Named the Licensee, Coindesk is Not Doing So As It Has Been Unable to Contact The Company Conceerned For Comment.
Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Combined Spot and Derivatives Trading on Centralized Exchanges Surged 7.58% to $ 9.72 Trillion in August, Marking The Highest Monthly Volume of 2025
- Gate Exchange Emerged As Major Player With 98.9% Volume Surge to $ 746 Billion, Overtaking Bitget to Become Fourth-Largest Platform
- Open Interest Across Centralized Derivatives Exchanges Rose 4.92% to $ 187 Billion
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Avax Tumbled Alongside the Rest of the Crypto Market, Extending A Weeklong Slide Despite Anthony Scaramucci-Backed Avax One’s Rebrand.
- Avalanche’s Avax Token Fell 8% in 24 Hours, Extending A Weeklong Decline to 18%.
- Institutional Interest-Including A $ 550 Million Avax Acquisition Plan from Nasdaq-Listed Avax One-HAS YET TO HALT the TOKEN’S SLIDE.
- Weak Support Levels and Low Trading Volumes Suggest Selling May Be Slowing, But Confidentnce in Avalanche’s Long-Term Position Remains Shaky.
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