I want you a really Dumpmas and a bearish new 12 months! Heading into the brand new 12 months, Blockchain investigator ZachXBT is warning merchants to tread fastidiously after a brand new celebrity-backed memecoin tied to rapper Soulja Boy started circulating on Coinbase’s Base community.
The token drew contemporary consideration over the weekend after Jesse Pollak, a co-founder of Base, publicly shared that he had put roughly $1,500 price of
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6.27%
Ethereum
ETH
Value
$2,932.36
6.27% /24h
Quantity in 24h
$23.91B
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Study extra
into the undertaking.
That disclosure instantly triggered backlash from on-chain sleuths aware of Soulja Boy’s crypto historical past.
“Why give SouljaBoy the platform to rip-off new individuals,” ZachXBT wrote, linking to a 2023 investigation detailing a number of failed or deserted tokens beforehand endorsed by the rapper.
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ZachXBT’s earlier analysis outlined no less than six tokens promoted by Soulja Boy throughout prior cycles, together with RapDoge, Orion, and SafeMars, all of which both rugged or quietly collapsed. The investigator additionally documented no less than 9 NFT collections launched by the rapper in 2021 that have been later deleted or didn’t ship promised utility.
Based on ZachXBT, Soulja Boy earned an estimated $730,000 from crypto promotions over the past bull market, charging as much as $12,000 per Instagram submit and $10,000 per X submit primarily based on a leaked price card.
Soulja Boy moved rapidly to include the fallout. In a press release posted on X early Monday, the rapper, born DeAndre Cortez Approach, denied knowingly selling fraudulent crypto tasks and acknowledged lapses in judgment throughout his early forays into the area.
“I need to be clear and clear,” he wrote. “I had no information {that a} scammer named Sahil was concerned or paying me to advertise something fraudulent. On the time, I used to be doing paid promos with out understanding the crypto and NFT area the way in which I do now.”
Soulja Boy Responds, however Skepticism Lingers
The rapper additional added, “This was years in the past, and I’ve realized quite a bit since then. To anybody who invested and received harm, I’m genuinely sorry. That was by no means my intention.”
Hm, , this Soulja Boy man, I believe I belief him!
Not. Given the observe file and restricted on-chain traction for previous Soulja-sponsored tasks, 99Bitcoins analysts recommend being cautious of this and different celebrity-endorsed cash.
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Key Takeaways
Blockchain investigator ZachXBT is warning merchants to tread fastidiously after a brand new celebrity-backed memecoin tied to rapper Soulja Boy.
99Bitcoins analysts recommend being cautious of this and different celebrity-endorsed cash.
The submit Jesse Pollak’s Base Beneath Fireplace: Will Soulja Boy Crank That Robocop ZachXBT? appeared first on 99Bitcoins.
