XCAD Founder Defends KSI Against Pump and Dump Allegations
The founder of the XCAD Network, Oliver Bell, has come to the defense of popular YouTuber KSI after he was accused of participating in a pump-and-dump scam involving XCAD and other digital assets. In a recent Twitter post, Bell stated that KSI had been one of XCAD’s “biggest value adders” and clarified that the YouTuber had actually bought more XCAD than sold, refuting the allegations of a pump-and-dump scheme.
KSI’s Pump and Dump Allegations
Blockchain sleuth ZachXBT shared screenshots of KSI’s account where the YouTuber revealed that he had invested in XCAD before selling $850,000 worth of the token shortly after. This led to accusations of a pump-and-dump scheme, with crypto analyst Coffeezilla labeling it as a “classic pump and dump.” Coffeezilla emphasized that the issue was not about being a good or bad caller but rather about ethical concerns regarding trading against statements made about certain tokens.
Fan Defends KSI
A dedicated supporter named Vibhor released a 36-page document defending KSI against the pump-and-dump allegations. While acknowledging potential bias towards KSI, Vibhor argued that the YouTuber openly discloses his crypto activities on platform X and is known for frequently changing his mind. The fan drew parallels between KSI and CNBC host Jim Cramer, highlighting how their actions in the crypto space can have contrasting effects on assets. Vibhor also mentioned a meme based on doing the opposite of what KSI does, which the YouTuber himself has acknowledged.
In conclusion, Oliver Bell, the founder of XCAD Network, has defended KSI against allegations of participating in a pump-and-dump scheme. Bell stated that KSI has been a valuable contributor to XCAD and clarified that the YouTuber has actually bought more XCAD than sold. While screenshots of KSI’s account have raised concerns and led to accusations of a pump-and-dump, some fans argue that his actions are similar to those of CNBC host Jim Cramer and should be viewed in that context. As the situation unfolds, it remains to be seen how these allegations will impact KSI’s reputation within the crypto community.
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