Ripple’s Chief Know-how Officer (CTO), David Schwartz, responded to a tweet from a crypto fanatic, calling the BEN Coin undertaking a 100% rug pull. Schwartz requested the poster why he believed such however nonetheless said his reservations in regards to the new crypto undertaking.
So many crypto cash launch day by day out there. Nonetheless, rip-off initiatives and rug pulls additionally deceive unsuspecting clients into investing.
A rug pull is a crypto rip-off the place the undertaking founder out of the blue withdraws the undertaking’s liquidity, disappearing with investor funds. This results in a pointy value drop and losses for buyers.
David Schwartz Expresses Reservations About BEN Coin
A crypto fanatic believes the BEN coin undertaking was a 100% rug pull. Reacting to the tweet, Schwartz requested the person if he believed the rug pull would happen sooner or later or if Bitboy’s involvement within the undertaking was a rug pull. Schwartz additional concluded that he believed a kind of eventualities.
Do you imply that the rug shall be pulled sooner or later? Or do you imply that Bitboy becoming a member of the staff is itself a rug pull? As a result of a kind of issues I undoubtedly agree with.
— David “JoelKatz” Schwartz (@JoelKatz) Might 10, 2023
Nonetheless, the favored crypto influencer Ben Armstrong, ”Bitboy”, reacted to those allegations stating that they’re merchandise of ignorance and hate.
He additional defined that he’s a drive to reckon with within the crypto house, taking part in initiatives that affected over 99% of the neighborhood. Additionally, he defined that his firm employs over 40 individuals.
In response to Armstrong, he has produced two movies day by day prior to now 5 years, a testomony to his dedication to educating the crypto neighborhood.
Bitboy requested the crypto neighborhood to cease believing memes that may create a adverse impression.
Additionally, in one other tweet, Armstrong knowledgeable his followers that he was taking on the BEN coin undertaking. He additionally agrees with @eth_ben, a Twitter person, that BEN coin’s liquidity and property shall be transferred to him in every week.
Notably, BitBoy said earlier that the coin was launched to function the governance token for his DAO. Additionally, the BEN token launched and traded for 2 days earlier than BitBoy introduced its existence.
How Is BEN Token Faring Right this moment?
The token is gaining huge traction on the chart at present as bulls appear to regulate the present situation. It signifies value volatility for the asset within the bullish path.
Though BEN is comparatively new, it has fashioned a number of highs and lows on the value chart as market forces act on its value.
-Featured picture: Pexels, chart: TradingView
