Ripple’s Chief Know-how Officer (CTO), David Schwartz, responded to a tweet from a crypto fanatic, calling the BEN Coin challenge a 100% rug pull. Schwartz requested the poster why he believed such however nonetheless said his reservations in regards to the new crypto challenge.
So many crypto cash launch each day available in the market. Nevertheless, rip-off initiatives and rug pulls additionally deceive unsuspecting prospects into investing.
A rug pull is a crypto rip-off the place the challenge founder abruptly withdraws the challenge’s liquidity, disappearing with investor funds. This results in a pointy worth drop and losses for traders.
David Schwartz Expresses Reservations About BEN Coin
A crypto fanatic believes the BEN coin challenge 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 challenge was a rug pull. Schwartz additional concluded that he believed a type of eventualities.
Do you imply that the rug will probably be pulled sooner or later? Or do you imply that Bitboy becoming a member of the group is itself a rug pull? As a result of a type of issues I undoubtedly agree with.
— David “JoelKatz” Schwartz (@JoelKatz) Might 10, 2023
Nevertheless, 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 keeping with Armstrong, he has produced two movies each day previously 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 challenge. He additionally agrees with @eth_ben, a Twitter person, that BEN coin’s liquidity and belongings will probably 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 Immediately?
The token is gaining huge traction on the chart right now as bulls appear to manage the present situation. It signifies worth 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 worth.
-Featured picture: Pexels, chart: TradingView
