- Bitboy Crypto faces backlash for becoming a member of the newly launched meme token, BEN Coin.
- Ripple CTO calls BEN Coin a rug pull.
- BEN Coin goals to develop into an consideration economic system token to advertise crypto adoption.
The crypto group is up in opposition to Ben Armstrong, a well-known crypto influencer often called Bitboy Crypto, over his current announcement about becoming a member of the mission group of the newly launched meme token, BEN Coin.
On Twitter yesterday, David Schwartz, the Ripple (XRP) blockchain chief know-how officer (CTO), mentioned he agrees 100% that the BEN meme coin mission is a rug pull, given Armstrong’s resolution to affix the group.
Notably, rug pull is a sort of rip-off in crypto and DeFi markets, the place the mission organizers instantly and deliberately take away all liquidity and disappear with traders’ funds. This motion causes the token’s worth to plummet.
Whereas the Ripple CTO sees no future within the BEN coin, Billy Markus, the co-founder of essentially the most outstanding meme coin, Dogecoin (DOGE), additionally expressed disappointment on the announcement from Armstrong.
In a tweet, Markus known as the replace “fairly lame” after Armstrong disclosed that he and two different individuals answering the Ben identify would make up “The Three Clever Ben” group to direct the meme coin mission. Markus’ response generated a variety of reactions, with some individuals calling for Armstrong to be sued if the BEN coin ultimately goes to zero.
Nonetheless, in line with Armstrong, the mission’s major purpose is to remodel BEN from a meme coin to an consideration economic system coin to advertise the adoption and utilization of crypto. Armstrong expressed his admiration for the prevailing group round BEN and acknowledged that they’d collaborate to result in extra constructive modifications.
Notably, the eye economic system coin idea seeks to reward customers for his or her consideration and engagement, making a self-sustaining ecosystem.