DFDV announces the release of the Meme coin DONT, reaching a market cap of $28 million within 3 hours

January 23rd, Solana Treasury Company’s DeFi Development division (DFDV) announced the launch of what it’s billing as the world’s first meme coin created by a publicly traded firm: DONT (DisclaimerCoin, do not buy). In its announcement, DFDV clarified that DONT has not secured any sponsorship, endorsement, or support from external influencers, KOLs, foundations, venture capital firms, or ecosystem partners. The token has no roadmap, advisors, core team, utility, or performance promises. Framed as a self-launched experiment by DFDV, DONT is touted as the first meme coin from a publicly traded company. DFDV intends to permanently hold 30% of DONT’s total supply. Per GMGN data (link: https://gmgn.ai/sol/token/i_m4TE56o8_FbmmdcCYHL7WETG89xtWmNFMzQAaQ8Zs9NXVbimibonk), DONT’s market capitalization briefly hit $28 million three hours post-launch. It currently stands at $18 million with a trading volume of $23 million. BlockBeats urges users to exercise extreme caution: meme coins often lack practical use cases, see extreme price swings, and carry significant investment risk.