XCAD Founder Jumps to KSI’s Defense Amid Pump and Dump Allegations
XCAD Founder Jumps to KSI’s Protection Amid Pump and Dump Allegations
XCAD Network founder Oliver Bell defended Youtuber KSI on February 15 after the squawk material creator modified into once accused of performing a pump-and-dump scam with loads of of his digital asset tokens, along with XCAD.
In an X submit, Bell infamous that KSI – whose staunch name is Olajide Olayinka Williams Olatunji – had been idea to be one of XCAD’s “greatest rate adders.”
Correct a rapid display cover from me concerning XCADs mention in the most up-to-date KSI drama
KSI invested into XCAD on day zero. Out of our entire cap table, KSI has been idea to be one of the most greatest rate adders, making introductions, concepts round the product.
He did promote some XCAD which he…
— Oliver Bell (@Oly245) February 15, 2024
“Truly he has supplied plenty more XCAD than supplied,” Bell said in his submit. “KSI did no longer ‘Pump & Dump’ XCAD.”
Bell said that KSI continues to be an investor of XCAD, while conserving “other wallets” and being a “stable” supporter of the token.
KSI’s Pump and Dump Allegations
On February 14, blockchain sleuth ZachXBT uploaded screenshots of KSI’s X yarn, in which the YouTuber posted that he had made investments into XCAD before promoting $850,000 value of the token rapidly after.
The crypto investigator shared additional circumstances of KSI discussing a amount of tokens after which liquidating the assets. One other crypto analyst, Coffeezilla, infamous KSI’s actions as a “classic pump and dump.”
Coffeezilla emphasised that the discipline is no longer any longer about being a unswerving or shocking caller. The crypto analyst argued that KSI’s actions, shopping and selling in opposition to his statements, resemble a “pump and dump” and asserted that such behavior is ethically questionable.
Coffeezilla said that if CNBC host Jim Cramer makes statements after which trades in opposition to them, it qualifies as a “pump and dump.”
Fan Defends KSI
A real supporter named Vibhor has furthermore launched a 36-website doc in defense of the YouTuber. Whereas acknowledging his doable bias in direction of KSI, Vibhor claimed that the YouTuber exclusively discloses his crypto actions on platform X and is identified for “flipping his tips suddenly.”
The fan drew a parallel between KSI and Cramer, noting that, admire Cramer, KSI’s actions in the crypto space could presumably furthermore need contrasting effects on assets.
“On every occasion he says he’s gonna HOLD a crypto, that crypto will tear down and each time he says it’s far time to promote a crypto, that crypto will tear up,” Vibhor said. “There is a meme in accordance to this to discontinue the opposite of no topic KSI is doing. And KSI himself has acknowledged that time and again.”
Source : cryptonews.com
