CoinScoopFarmmi Tokenized Stock Exposed as Unofficial Meme Coin
Shares of Nasdaq-listed Farmmi surged over 321% on Wednesday following the launch of a meme coin named JINQIAN on the Robinhood Chain, which was paired with a token labeled FAMI. On-chain analysis reveals that FAMI is not an official Robinhood tokenized stock; its entire supply of 37,430,000 tokens was minted by a single wallet, which retains 38% of the supply and uses a 'PoolRepricer' contract to manipulate prices. The token lacks an issuer and redemption mechanism, bearing no relation to actual Farmmi stock. In contrast, official Robinhood tokenized stock
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