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CAUSE OF DEATH

First Fidelity USA: A Trust Fund Baby's Tragic Demise

Here we observe the postmortem of First Fidelity USA, a token that achieved the remarkable distinction of being simultaneously decentralized and completely centralized—a financial oxymoron preserved in perpetuity. With ten holders controlling 100% of supply and merely $1,698 in liquidity, this creature evolved for less than three weeks before succumbing to its own evolutionary impossibility. Nature, it seems, abhors a vacuum, but abhors concentrated wealth in a permissionless ecosystem even more.

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