Floyd Mayweather's social media accounts promoted a Solana-based meme coin on Monday, a token that briefly peaked at a $1 million market capitalization before plummeting in value. Sahil Arora, the notorious celebrity coin promoter, is claiming responsibility for the launch and says it is the start of another wave heading to the blockchain.

Arora has faced accusations of "scamming" celebrities and "rug pulling" tokens ever since he exploded onto the scene in 2024 by creating a Caitlyn Jenner meme coin, the launch that first put him in the spotlight.

Celebrity-endorsed tokens have become a recurring flashpoint in crypto: prices routinely spike on the pull of a famous name, then collapse just as quickly, leaving disputes over who actually profited and who was left holding the losses.

A comeback on Fomo

Arora, the promoter behind a string of 2024 celebrity meme coins, has just launched a new token, with Floyd Mayweather's social media accounts briefly promoting it. Arora told Decrypt it is the start of a comeback: he wants to revive the celebrity coin craze on Fomo, a trading platform on Solana, using the same playbook that made his name on Pump.fun.

Arora built his reputation through a series of celebrity-linked meme coin launches on Pump.fun in 2024. It began with former Olympian Caitlyn Jenner, who went on to claim that Arora "scammed" her. Since then, he has been tied to several other projects that celebrities and industry figures have labeled "rug pulls" or simply fraudulent.

The Mayweather token

His latest entry is the Floyd Money Mayweather meme coin, launched on Fomo, which peaked at a market capitalization of $1 million before plummeting 96% over the next three hours on Wednesday.

Mayweather's social media account promoted the token, according to several social media accounts, before selling from the deployer wallet for just $5,000 worth of profit and deleting the posts. The token then pumped to its $1 million market cap peak, meaning the wallet missed out on major profits—but Arora says this was all part of the plan.

The promoter told Decrypt that the entire scheme was orchestrated, explaining that the narrative of Mayweather fumbling gains was what pushed the token's price higher. Fomo is a trading platform that blends in social media elements, meaning users can see who is buying and selling—which can create viral moments.

Arora claims to have profited seven figures on the Mayweather token by selling from other wallets. On-chain analytics firm Bubblemaps does not believe that is realistic. The biggest connected cluster of wallets profited approximately $105,000, Bubblemaps told Decrypt, and the top 100 traders combined made only $306,000 worth of profit, according to the firm's analysis of on-chain data. The analytics firm said the numbers are not adding up.

Even so, the promoter appears to have stood to profit handsomely from the scheme, and he is openly plotting a second wave of celebrity tokens on the platform.

JUST IN: FLOYD MAYWEATHER CREATES A FOMO ACCOUNT AND SHILLS A MEMECOIN HE SOLD FOR $5,000 PROFIT BEFORE THE COIN RAN, MISSING OUT ON OVER $280,000 IN PROFIT pic.twitter.com/UAX2KWpo5x

— Market Insider (@MrketInsider) October 13, 2026

"We will recreate everything on Fomo that we made on Pump.fun in 2024, just with better strategies where people also win," Arora told Decrypt. When pushed on those new strategies, he said, "this wasn't [sold in] one clip," in contrast to previous projects that have faced "rug pull" accusations after dropping more than % in seconds.

He added that he is "tight" with all of the celebrities he launches tokens with, and that convincing them to be part of his schemes is "really easy."

In 2024, Pump.fun provided Arora with a platform to easily create tokens for celebrities to promote through social media chatter, a formula that produced a string of viral launches throughout the year. Now Fomo has built a trading environment that drives virality, and Arora wants to take full advantage of it. Whether his promised follow-up wave materializes remains to be seen, but any new celebrity token on the platform will arrive under the same kind of rapid on-chain scrutiny that just complicated his Mayweather profit claims.

Mayweather's long crypto history

This is not Mayweather's first crypto rodeo. In 2017, he asked fans to start calling him Floyd "Crypto" Mayweather, dropping his usual "Money" moniker, as he began to plug a streak of token sales.

One of those promotions was the Centra Tech initial coin offering (ICO), which raised $32 million for a crypto debit card that investors were told was backed by Visa and Mastercard—it was not. By 2018, he had been charged by the SEC for promoting the sale without disclosing that he had been paid. He later agreed to pay a fine and not to promote any security for three years. The case became an early marker of how celebrity crypto promotions draw regulatory attention once undisclosed payments come to light.

In 2021, he drew even more heat for promoting an obscure Ethereum-based token named EthereumMax. The boxer turned up to a Bitcoin conference wearing an EthereumMax shirt and was booed by the crowd for suggesting other tokens could succeed in front of an audience of Bitcoin maximalists. Mayweather was named alongside Kim Kardashian in a lawsuit over EthereumMax, though the judge dismissed it by the end of 2022.

The Arora-linked token is just the latest chapter in Mayweather's long, messy history with crypto.

Floyd Mayweather did not respond to Decrypt's request for comment.