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 concerning the new crypto undertaking.
So many crypto cash launch every day out there. Nonetheless, rip-off tasks and rug pulls additionally deceive unsuspecting prospects into investing.
A rug pull is a crypto rip-off the place the undertaking founder instantly 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 consumer 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 type of situations.
Do you imply that the rug might be pulled sooner or later? Or do you imply that Bitboy becoming a member of the crew is itself a rug pull? As a result of a type of issues I undoubtedly agree with.
— David “JoelKatz” Schwartz (@JoelKatz) May 10, 2023
Nonetheless, the favored crypto influencer Ben Armstrong, ”Bitboy”, reacted to these allegations stating that they’re merchandise of ignorance and hate.
He additional explained that he’s a pressure to reckon with within the crypto house, taking part in tasks that affected over 99% of the neighborhood. Additionally, he defined that his firm employs over 40 folks.
In line with Armstrong, he has produced two movies every day up 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 destructive impression.
Additionally, in another tweet, Armstrong knowledgeable his followers that he was taking up the BEN coin undertaking. He additionally agrees with @eth_ben, a Twitter consumer, that BEN coin’s liquidity and property might be transferred to him in per 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 announced its existence.
How Is BEN Token Faring At the moment?
The token is gaining huge traction on the chart at the moment as bulls appear to regulate the present state of affairs. 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
