Trader Nets $1 Million Profit In 30 Minutes Trading Sotheby’s Vice President’s New Meme Coin

A crypto trader secured a $1 million profit within 30 minutes by trading a new meme coin called Nothing (VOID), launched by Sotheby's vice president, Michael Bouhanna.

The trader purchased 462 million VOID, comprising 44% of the supply, for 35 Solana (SOL) worth approximately $8,200 shortly after the coin's launch. According to a December 4 tweet by on-chain analytics platform Lookonchain, the trader sold 439 million for 6,604 SOL, exceeding $1 million, just 30 minutes after the acquisition.

Despite the substantial sale, data from GeckoTerminal indicates that VOID's price remains over 3,400% higher than 24 hours ago, trading at $0.011 as of 7:07 a.m. EST.

Bouhanna had previously hinted at a meme coin with an art theme in a December 4 tweet. The creation of the new token from a wallet linked to the executive swiftly followed the post.

This is not Bouhanna's initial venture into the creation of meme coins. He previously developed Comedian (BAN) through the popular Solana meme coin platform Pump.fun, inspired by the famous $6 million banana artwork recently bought by Tron founder Justin Sun.

During the launch of BAN, Bouhanna faced accusations of insider trading. According to Lookonchain, Bouhanna profited $1 million from the coin's debut. The analytics firm also asserted that the Sotheby's executive had bought numerous meme coins prior to launching his own but "made almost no money."

Bouhanna denied the allegations, stating that the wallet in question did not belong to him. He also destroyed 3.7% of the token supply he owned in his "creator wallet."