Oliver Bell, the creator of the Xcad Network, came to the defense of popular YouTuber KSI after allegations were made by crypto investigator ZachXBT, claiming that KSI had engaged in a pump-and-dump scam involving his digital asset tokens, including XCAD.
On February 14th, ZachXBT shared screenshots of KSI’s X account, where he had posted about XCAD, and then proceeded to sell $850,000 worth of tokens in the following days. ZachXBT provided additional examples of KSI mentioning other tokens and subsequently selling them, leading crypto sleuth Coffeezilla to describe this behavior as a classic pump-and-dump scheme.
Bell responded the next day, arguing that KSI had every right to sell his tokens. On February 15th, Bell expressed in a post that KSI had been one of their most valuable contributors, providing introductions and suggestions for their product. Bell emphasized that while KSI did sell some tokens, he had also purchased a significant amount.
Furthermore, Bell directly refuted the allegations, stating that KSI did not engage in a pump-and-dump scheme with XCAD. Bell clarified that KSI remains an active investor and believer in their project, as evidenced by his involvement with other wallets and consistent support.
In addition to Bell’s defense, a devoted fan named Vibhor published a comprehensive 36-page document defending KSI. Vibhor acknowledged potential bias towards KSI but argued that the YouTuber only shares his crypto activities on X and is known for changing his stance quickly. Vibhor compared KSI to CNBC host Jim Cramer, highlighting the possibility that their calls may have unintended consequences for asset values.
However, crypto investigator Coffeezilla remains unconvinced by these arguments. In a response video, Coffeezilla explained that it is not simply a matter of being a good or bad caller. Coffeezilla contended that KSI’s actions of trading against his own statements are indicative of a pump-and-dump scheme, which is considered unethical.
Meanwhile, some members of the community believe that KSI, whose real name is Olajide Olayinka Williams Olatunji, acted maliciously, while others speculate that his association with Logan Paul, who is currently facing a class-action lawsuit related to a nonfungible token collection, may have influenced his behavior.
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