YouTube star Olajide Olayinka Williams Olatunji, extra generally often known as “KSI,” faces pump-and-dump allegations from crypto investigators ZachXBT and Coffeezilla after reopening his previous crypto-focused X account.
On Feb. 14, KSI revived his previous account on X, the place he used to speak about crypto token investments. The web superstar shared a put up, testing the waters on the crypto-focused account with about 371,000 followers.
Just a few hours later, crypto investigator ZachXBT commented on KSI’s put up, saying that the YouTuber would begin “sharing rubbish once more.” The crypto detective adopted up his reply by sharing a screenshot of KSI posting about his funding within the watch-to-earn mission XCAD Community (XCAD). This was paired with one other display seize of KSI’s crypto pockets dumping $850,000 in XCAD tokens
ZachXBT additionally shared different examples of KSI posting about tokens and promoting them afterward. In 2021, he mentioned KSI posted that he was “bullish” on the nonfungible token (NFT)-focused mission Ethernity Chain (ERN). However hours later, blockchain knowledge confirmed that KSI bought about $350,000 in ERN tokens.
YouTuber Stephen “Coffeezilla” Findeisen revealed a follow-up video sharing KSI’s statements on the problem. In line with KSI, he’s nonetheless holding some XCAD tokens, and he nonetheless “totally believes” within the mission and the power to earn from watching content material. The YouTuber defined that he bought XCAD to put money into the now-collapsed Terra Luna Traditional (LUNC), previously LUNA.
The web superstar additional defined that he “didn’t have any malicious intent in making an attempt to rip-off” and mentioned that he was new to crypto and was excited. Trying to elucidate the posts and the promoting that adopted, KSI mentioned that each time he tweeted one thing, the alternative would happen, and that’s why he determined to “tweet the alternative” of what he “was really doing.” Ultimately, the YouTuber claimed he didn’t revenue from the occasions as he misplaced cash within the LUNC debacle.
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Nevertheless, Coffeezilla argued that KSI publicly saying one factor after which privately doing the alternative is the “definition of a pump and dump.” Whether or not it’s profitable or not, Coffeezilla argued that what KSI did was a pump and dump. “I don’t actually purchase that he had no clue that tweeting one factor would positively have an effect on the value in his favor.”
KSI can also be shut buddies and enterprise companions with fellow YouTuber Logan Paul, who additionally faces crypto-related controversy. Paul is concerned in a class-action lawsuit associated to the gross sales of an NFT assortment known as CryptoZoo that promised to launch a play-to-earn recreation that was by no means launched. On Jan. 5, Paul promised to refund traders in the event that they waive present or future authorized claims in opposition to the superstar.
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