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... Initially, Biesk ignored it. He knew that his son played around with crypto, but to have turned a small fortune before bedtime was too far-fetched. "We didn't really believe it," says Biesk. But when the phone started to ring off the hook and his wife was flooded with angry messages on Instagram, Biesk realized that his son was telling the truth"if not quite the full story.

Earlier that evening, at 7:48 pm PT, Biesk's son had released into the wild 1 billion units of a new crypto coin, which he named Gen Z Quant. Simultaneously, he spent about $350 to purchase 51 million tokens, about 5 percent of the total supply, for himself.

Then he started to livestream himself on Pump.Fun, the website he had used to launch the coin. As people tuned in to see what he was doing, they started to buy into Gen Z Quant, leading the price to pitch sharply upward.

By 7:56 pm PT, a whirlwind eight minutes later, Biesk's son's tokens were worth almost $30,000"and he cashed out. "No way. Holy ----! Holy ----!" he said, flipping two middle fingers to the webcam, with tongue sticking out of his mouth. "Holy ----! Thanks for the twenty bandos." After he dumped the tokens, the price of the coin plummeted, so large was his single trade. ...