Breaking: Zachary Testa Identified as Pepe Coin Founder Following Price Crash

In tweets from just an hour ago, the crypto community was alerted to details surrounding Zachary Testa, known online as @degenharambe and @LordKekLol. The information, shared by NotLarvaLabs founder PAULY, has highlighted Testa’s association with the $pepe coin and his alleged disregard for ethical considerations.

Testa reportedly made a lavish purchase of an $865,000 purple Lamborghini using his earnings from the $pepe coin. This acquisition has drawn significant attention, especially since Matt Furie, the original creator of Pepe the Frog, did not receive any financial benefits from the coin’s success.

Further insights revealed that Testa’s team had connections with the listings teams of major cryptocurrency exchanges, Binance and SushiSwap. This association subsequently led to the $pepe coin being listed on Binance.

Adding to the controversy, Testa, who also pursues landscape photography, has allegedly violated laws in various wilderness areas. These violations include trespassing on sacred indigenous lands and regions with established drone bans.

For those delving deeper into the matter, Testa’s personal website,, provides more information. However, his Instagram account, @zachtesta, has recently been set to private. Other online aliases associated with Testa include Twitter handles @ztesties, which is verified, and @gayretardbitch, which remains unverified but is suspected to be linked to him. Born in 1997, Testa completed his marketing degree from Arizona State University in 2018.

Several of Testa’s cryptocurrency wallet addresses have also been disclosed, offering another avenue for verification and research.

  • 0x8d2a5bdfc692ad912af77016fc75b49856c369f1
  • 0xea40b0f6BA2aD77fF2FedAe98Ca67EaefCBCBE4A (badussy.eth)
  • 0x9c46a675350ce1f7ca616bf4fb4e0a542295e302
  • 0x40962b448aa899196906646340cb4eb61a8d49b4

Prior to the revelations, the $pepe coin saw a significant drop of approximately 20% in its value. From a high of $0.00000111 the previous day, it plummeted to a low of $0.0000008787.

This decline is speculated to be a result of alterations in the coin’s multi-signature wallet thresholds. The criteria changed from requiring approvals from 5 of the 8 associated wallets to only 2.

Additionally, an astounding 16 trillion $pepe coins, valued at roughly $15.5 million, were transferred from this multi-signature wallet to addresses linked with major exchanges such as Binance, OKX, and Bybit.

As the crypto world grapples with these revelations, the event may underscore the importance of transparency and accountability in the ever-evolving crypto world.

Image source: Shutterstock


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Flash Crash Sends Cardano (ADA) Barreling Downwards To A $2 Retest

Cardano (ADA) has not been left out of the massive flash crash that just occurred throughout the market. What seemed to be a good day for bitcoin as El Salvador’s “Bitcoin Day” began has now turned to nothing short of a nightmarish market opening. The crash saw bitcoin drop $6K in only a matter of hours. While the general altcoin markets have recorded crashes as high as over 20% in the same timeframe.

With altcoins following bitcoin closely, the price of the ADA shows similar movement patterns to BTC following the flash crash. The number 1 crypto coin fell to the mid-$40K, taking the whole of the market down with it.

Related Reading | IOG Denies Rumors About Cardano Smart Contracts Platform

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The flash crash has taken the market by surprise, given that general sentiment is positive and the Fear & Greed Index putting the market in “Extreme Greed”. There’s currently no exact reason pinpointed for this crash. Although massive liquidations to the tune of almost $1 billion across the crypto market look to be the culprit. The liquidated positions being mostly long positions.

Crash Puts Cardano (ADA) In Chokehold

Struggling alongside the other cryptocurrencies is Cardano (ADA). The asset had long left behind the $2 price point since mid-August, with indicators pointing towards a pathway to $5 following upgrades. But with the current flash crash, the digital asset lost over 18% of its value. This set it on a downward trend that saw ADA hitting the low $2s for the first time in three weeks.

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course

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Even though Cardano (ADA) has seen an upward correction that sent it towards mid-$2, the price is still maintaining a struggling pace. Trend lines in the asset show a sideways zig-zag, up and down pattern. Depicting numerous dips and recoveries in just the past hour alone. Starting the early hours of the morning was ADA at $2.75. A bit shaky but was holding on tight to this price point.

Cardano (ADA) price chart from

Cardano (ADA) price chart from

Flash crash sends ADA price to three-week lows | Source: ADAUSD on

At this junction, it is still too early to tell how much recovery ADA will make in the hours following the flash crash. It has so far recovered about 6% of value lost during the crash, with indicators pointing towards total recovery. As of the current time of writing, Cardano (ADA) is still trading low at a price of $2.45 according to Coinmarketcap, with a 24-hour price change of 13.46%.

Featured image from, chart from


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David Rubenstein Says Cryptocurrencies Are Here to Stay Despite Price Crash

In an interview with CNBC media outlets, David Rubenstein, the co-founder and chairman of Carlyle Group private equity firm, said Thursday that he believes cryptocurrencies would remain part of the financial space for years to come, dismissing concerns about growing asset class was destined to fade away.

Rubenstein stated that although he did not invest in digital assets directly, he personally invested in firms that facilitate cryptocurrency trading.

“I did that, in part, because I think it’s here to stay. Cryptocurrency is not going away, just like gold is not going away,” adding some investors consider Bitcoin as a substitute for gold, Rubenstein said.

Rubenstein’s comment comes at a time when Bitcoin and other cryptocurrencies plunged their values. On Wednesday, May 19, Bitcoin’s price declined more than 30% to fall around $30,000 per coin. Later the leading cryptocurrency recovered some of such losses and traded at around $41,000.

“It has its ups and downs, and yesterday was not a good day,” Rubenstein stated, referring to Wednesday’s collapse. “But that’s true of anything relatively new, and I don’t think you’re going to see anything like crypto going away and disappearing. It’s here,” the US billionaire businessman said.

Bitcoin and other cryptos traded off their prices after the US Treasury Department called for stricter crypto compliance with the IRS (Internal Revenue Service tax collection agency) on Thursday, May 20.

While Rubenstein touts Bitcoin’s long-term viability, some people remain sceptical of the leading crypto. Early this month, Charlie Munger, the vice-chairman of Berkshire Hathaway Inc., said that Bitcoin is “disgusting and contrary to the interests of civilization.”

Rubenstein stated that whether people think Bitcoin and other crypto assets are “right or wrong,” it is clear that there is an appetite (demand) for an alternative to the current financial system.

“It’s here because people in the market want something other than just the traditional currencies that we’ve had,” Rubenstein added.

For crypto investors being disturbed by questions of whether the US government will establish regulations of cryptocurrencies, Gary Gensler, the chairman of the Securities and Exchange Commission, said early this month that he believes that there is a need for greater investor protection around Bitcoin. 

Rubenstein talked about the prospect of more regulations, stating that the idea that “the government will be able to stop cryptocurrency from being something investors want is unrealistic at this point.”

Crypto as Alternative to Fiat Monetary Systems 

Referring to Bitcoin as an alternative to the current financial systems gets to its core value proposition, which provides another option to the traditional financial infrastructure.

Cryptocurrency provides another option of choices, fundamentally change from the existing financial system and comes with different benefits and tradeoffs.

A government authority does not issue Bitcoin

Unlike several inflationary fiat currencies (always increasing in supply), Bitcoin is disinflationary (decreasing inflation over time) and eventually will stop when the last Bitcoin would be mined in 2040. This disinflationary characteristic of Bitcoin attracts many people and investors who are not interested in the value erosion related to inflation brought by governments’ fiat currencies.  


Image source: Shutterstock


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