Jason Derulo Facing Backlash Over Meme Coin Scam Allegations 🚨
Pop star Jason Derulo has found himself embroiled in controversy after being accused of participating in a meme coin scam. Despite assuring his followers that he would never sell his newly launched meme coin, JASON, the coin’s value plummeted by more than 72% following its launch, prompting Derulo to reportedly sell substantial amounts of the token.
Derulo Reportedly Sells Tokens Despite Promise
American singer Jason Derulo is facing significant backlash after promoting a meme coin called JASON to his 3.5 million followers on X (formerly Twitter). Shortly after the coin’s launch, its value dropped by over 72%, leading to allegations of a pump and dump scheme that left investors and fans dismayed.
- Derulo claimed to have been deceived by alleged scammer Sahil Arora
- Arora’s involvement in previous scams casts doubt on Derulo’s innocence
- Caitlyn Jenner and Rich The Kid also fell victim to Arora’s schemes
Community Divided Over Derulo’s Involvement
While some members of the meme coin community are inclined to believe Derulo’s claims of deception, influential figures like SlumDOGE millionaire and on-chain detective ZachXBT remain skeptical. SlumDOGE millionaire accused Derulo of profiting from the rug pull, implying that he was aware of the scheme and chose to participate.
- Community divided over Derulo’s role in the meme coin scandal
- Bubblemaps reports selling activity linked to Arora and Derulo
- Wallets associated with Arora dumped tokens for profit
- Derulo’s wallet received tokens and sold them despite assurances not to
Arora’s Response to Pump and Dump Allegations
The incident involving JASON has sparked a debate on the ethics of celebrity endorsements in cryptocurrency and the risks associated with such promotions. Sahil Arora, the co-creator of the JASON coin, claimed that the situation was orchestrated and defended the project’s success despite initial setbacks.
- Arora dismisses allegations of a pump and dump scheme
- Arora and Derulo had a significant stake in the JASON project
- Arora implicated in similar schemes with other celebrities
New Collaborations and Future Plans
Despite the controversy surrounding JASON, Arora hinted at future collaborations with celebrities like Tyga and Ronaldinho Gaúcho for launching meme coins. However, the lack of explicit promotions by these celebrities raises doubts about their involvement in such ventures.
Hot Take: Reflecting on the Celebrity-Backed Meme Coin Scandal 🌶️
As a crypto enthusiast, it’s crucial to remain vigilant when it comes to celebrity endorsements in the cryptocurrency space. The recent scandal involving Jason Derulo and Sahil Arora serves as a reminder of the risks and ethical considerations associated with celebrity-backed meme coins. Stay informed and always conduct thorough research before investing in any project, especially those endorsed by high-profile individuals.
Sources:
– Bubblemaps Twitter
– Derulo’s Public Statement
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