The $NATRO Memecoin Built on the Spribe Founder’s Family Name Crashed by Almost 98%
The story of the $NATRO memecoin quickly turned from a family crypto experiment into a deeply uncomfortable reputation case. Alex Natroshvili, the son of David Natroshvili — the founder and CEO of Spribe, the company behind Aviator — launched the token on Solana on May 21. Just a few days later, the coin had lost about 98% of its value, the project website vanished, and investors who started demanding explanations were given not a rescue plan, but a short “stfu.”
$NATRO was not sold as just another memecoin. The project was presented as a “networking coin”: holders were promised access to private Telegram chats with wealthy people. The whole system was built around four tiers, where the higher the status, the closer the access was supposedly meant to be to a more valuable audience.
But from the very beginning, the project’s main asset was not technology, not a product, and not even the community. Its main asset was the family name. The website directly emphasized that most coin founders are anonymous, while Alex was not. In other words, the bet was on visibility and trust in the Natroshvili name.
Against that backdrop, the project FAQ looks especially strange. In it, the authors themselves wrote that damage to a reputation lasts forever, while scam money does not. They used that line to explain why it supposedly made no sense for them to deceive buyers. A few days after launch, it no longer sounded like an argument, but almost like a ready-made quote for an investigation.
Before the project went live, according to the source information, David Natroshvili Sr. also took part in its promotion. He collected presale funds through a verified Instagram account, posted Stories against a Bentley and Ferrari backdrop, set the minimum buy-in at $1,500, and directly pointed his audience to his son’s project.
After the launch, it turned out that the promised private chats were almost empty. Foyer had 13 participants, Floor had 10, and Lounge had 2 holders and 3 administrators. The top tier, Inner Circle, which was supposed to be the most valuable part of the whole setup, was never created at all.
When investors began asking about refunds, the administrator limited the response to “Nothing to say.” Alex Natroshvili himself, judging by the published information, answered even more harshly — with that same “stfu.” For a project that was sold on trust in a public name, this looked like the worst possible way to pour gasoline on a fire.
From there, everything moved quickly. Within 72 hours, the website disappeared, the link to the project was removed from Alex’s Instagram, and the paid influencer promo video also vanished. At the same time, the official Telegram channel, with 6,000 subscribers, continued urging new buyers to enter the token.
At the time of publication, $NATRO’s market capitalization was about $3,000. At launch, however, the stated valuation was above $200,000. According to the source information, an email to Spribe’s legal department went unanswered.
Formally, this is a story about a memecoin. In reality, it is about how quickly trust can burn down when a project rests almost entirely on a family name, attractive packaging, and a promise of access to the “right people.” Especially when, instead of explanations, investors get empty chats, a deleted website, and one rude message from the founder.
Olivia Grant is an iGaming news reporter at CasinosInCanada who covers casino industry updates, regulations, and market developments.
