PANews May 16th news, according to Lookonchain monitoring, the deployer of WallStreetBaby made nearly 5000 SOL (equivalent to $810,000) by sniping and selling WSB in just 1 hour. The deployer deployed 1 billion WSB, adding liquidity of 600 million WSB and 400 SOL, leaving 400 million WSB remaining. Before the open trading, the deployer created 32 wallets and distributed 643 SOL to these 32 wallets. These 32 wallets successfully sniped 362 million WSB (36.2% of the total supply) at the start of the trading. Then he quickly sold 362 million WSB at a price of 4,371 SOL (approximately $708,000). In addition, the deployer distributed the remaining 400 million WSB to more than 100 wallets. It was found that the price of 210 million WSB was 1,250 SOL (equivalent to $202,000), while the remaining 190 million WSB was more difficult to track. So far, the deployer has earned nearly 5,000 SOL (equivalent to $810,000).

According to official sources, the Wall Street Baby Token (WSB) will be launched on the Solana chain. Wall Street Baby is a MEME token that allows users to experience instant transaction execution, low transaction fees, and decentralized financial operations on a global scale.

The Golden Finance reported that the three major U.S. stock indexes collectively rose, with the Dow Jones rising 0.32%, the Nasdaq rising 0.75%, and the S&P 500 rising 0.48%. Popular technology stocks rose across the board, with Tesla up more than 3% and Nvidia up more than 1%. WSB concept stocks soared, with GameStop up more than 62% and AMC Theatres up more than 32%. The one-day increase of GameStop exceeds the annual increase of Bitcoin.

U.S. stocks closed Tuesday, with the Dow preliminarily closing pump 125 points or 0.32%, the S&P 500 pump 0.48%, and the Nasdaq pump 0.75%. Alibaba (BABA.N) closed fall 6% after the results, WSB concept stocks continued to big pump, Game Station (GME.N) pump 62%, closed pump 74% yesterday, and AMC Cinemas (AMC.N) pump 32%.

Gold Finance reported that the US stock market opened basically flat, with the Dow Jones rising 0.01%, the Nasdaq rising 0.02%, and the S&P 500 index falling 0.03%. The popular concept stocks on WSB soared, with GameStop rising over 110%, AMC Theatres rising over 129%, and BlackBerry rising 23%.

Golden Finance reported that the pre-market gains of WSB concept stocks in the US stock market have expanded, with GameStop (GME.N) rising more than 90% and AMC Theaters (AMC.N) rising more than 80%.

Blockchain platform Initia announced the closing of a $7.5 million funding round co-led by Delphi Ventures and Hack VC, Nascent, Figment Capital, Big Brain and A. Capital, as well as anonymous Crypto Assets traders Cobie, DCF God, Split Capital co-founder Zaheer Ebtikar, Fiskantes and WSB Mod, angel investors including Nick White, COO of Celestia, participated. Initia is an application-specific L2 on Cosmos L1 that leverages OP rollups. With Initia's architecture, including L1, L2, and communication layers, developers can easily launch application-specific Blockchain based on Initia L2 without having to understand complex chain-level infrastructure or run validator sets. （TheBlock）