- Bitboy Crypto is going through backlash for becoming a member of new meme token, BEN Coin.
- CTO calls BEN Coin a carpet puller.
- BEN Coin goals to develop into an attention-saving token to advertise crypto adoption.
The crypto group is going through Ben Armstrong, a well-known crypto influencer referred to as Bitboy Crypto, following his latest announcement to affix the venture staff for the brand new meme token, BEN Coin.
On Twitter yesterday, David Schwartz, the chief expertise officer (CTO) of the Ripple (XRP) blockchain, stated he agreed 100% that the BEN meme coin venture is a draw, contemplating Armstrong’s choice to affix the staff.
Are you saying the rug can be pulled sooner or later? Or are you saying that Bitboy becoming a member of the staff is itself a carpet pull? As a result of a type of issues I positively agree with.
— David “JoelKatz” Schwartz (@JoelKatz) Could 10, 2023
Notably, rug pulling is a kind of rip-off within the crypto and DeFi markets, the place venture organizers instantly and deliberately withdraw all liquidity and disappear together with traders’ funds. This motion causes the worth of the token to drop.
Whereas the Ripple CTO sees no future within the BEN coin, Billy Markus, the co-founder of essentially the most distinguished coin (DOGE), additionally expressed his disappointment with Armstrong’s announcement.
In a tweet, Markus known as the replace “somewhat lame” after Armstrong revealed that he and two different individuals going by the title of Ben would type the staff “The Three Clever Ben” to guide the coin venture. money. Markus’ response generated plenty of backlash, with some individuals asking that Armstrong be prosecuted if the BEN coin finally ends up dropping to zero.
When it drops to 0 and delivers nothing, does that imply it may be sued? How does this match into the present authorized narrative
— Scholar | Artist (@MadamSavvy) Could 9, 2023
Nonetheless, based on Armstrong, the principle purpose of the venture is to rework BEN from a meme coin into an attention-saving coin to advertise the adoption and use of crypto. Armstrong expressed his admiration for the prevailing group round BEN and stated they’d work collectively to result in extra optimistic change.
Notably, the attention-saving coin idea goals to reward customers for his or her consideration and engagement, making a self-sustaining ecosystem.
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