On the evening of November 19, art consultant Adam Biesk was finishing work at his California home when he overheard a conversation between his wife and son, who had just come downstairs. The son, a boy in his early teens, said he had made a lot of money from a cryptocurrency he created himself.
At first Biesk ignored it. He knew his son was playing crypto, but it was too far-fetched to have made a small fortune before going to sleep. “We didn't really believe it,” says Biesk. But when the phone started ringing off the hook and his wife was flooded with angry messages on Instagram, Biesk realized his son was telling the truth, if not the whole story.
Earlier that evening, at 7:48 PM PT, Biesk's son had released 1 billion units of a new cryptocurrency into the wild, which he called Gen Z Quant. At the same time, he spent about $350 to buy 51 million tokens, about 5 percent of the total supply, for himself.
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