YouTube personality and rapper KSI (Olajide Olayinka Williams Olatunji) faces allegations of cryptocurrency pump-and-dump schemes after reactivating a crypto-focused account on social media platform X.
On February 14th, KSI posted to an account with 371,000 followers, hinting at renewed crypto token discussions. This quickly drew scrutiny from investigators ZachXBT and Coffeezilla.
ZachXBT Commented on the Post and accused KSI of a history of touting tokens, triggering price surges, and then privately selling them for profit. He cited alleged incidents involving Ethernity Chain (ERN) and the watch-to-earn token XCAD Network.
YouTuber Stephen “Coffeezilla” Findeisen released a subsequent video disclosing KSI’s remarks. KSI affirmed his continued possession of XCAD tokens and expressed unwavering confidence in the project’s potential for content-driven earnings.
KSI defended himself in a video response, claiming beginner mistakes. He stated that losses on the crashed token LUNC undermined profit motives. However, critics argue that telling followers one thing publicly while contradicting it through private actions is suspected of pump-and-dump tactics.
Coffeezilla continued to highlight that intentionally misleading followers for personal gain constitutes pumping and dumping, regardless of profitability.
The allegations arise amidst growing scrutiny of celebrity crypto endorsements and transparency. KSI’s associate Logan Paul also faces a lawsuit over reneging on an NFT project’s play-to-earn promises.
While KSI maintains positive intentions, investigators argue his social media activity exhibits pump-and-dump warning signs. The accusations could pressure disclosure requirements around celebrity crypto promotions to protect average investors.
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