Crypto Trader's Memecoin Takeover Plan Falls Apart Amid Math Errors

A crypto trader claimed to have bought a 'controlling stake' in a NASDAQ-listed penny stock for $1.8 million, intending to squeeze short-sellers through a memecoin.

The plan involved tokenizing equity and pairing it with a memecoin to launch a short-squeeze campaign against the '92.3%' of the float already sold-short.

However, a proposed Community Note on X debunked the possibility that such a company exists, and three hours later, the trader admitted to fabricating some numbers, recasting his original post as intentionally obscure.