- Bitboy Crypto to face legal responsibility for becoming a member of newly launched meme token BEN Coin.
- CTO calls BEN Coin a rug puller.
- BEN Coin goals to change into a token of the eye financial system that promotes using cryptocurrencies.
The crypto neighborhood is up in arms towards Ben Armstrong, the well-known crypto developer generally known as Bitboy Crypto, as a result of his just lately introduced becoming a member of the staff of the newly launched meme token BEN Coin challenge.
On Twitter yesterday, David Schwartz, Chief Know-how Officer (CTO) of the Ripple (XRP) blockchain, mentioned he 100% agrees that the BEN meme coin challenge is on the rise, given Armstrong’s determination to hitch the staff.
You imply the carpet can be pulled sooner or later? Or are you saying that Bitboy becoming a member of the staff is a rug pull in itself? As a result of a kind of issues I undoubtedly agree with.
— David “JoelKatz” Schwartz (@JoelKatz) March 2023 Could 10
It ought to be famous that rug pull is a sort of fraud within the cryptocurrency and DeFi markets, when challenge organizers instantly and intentionally take away all liquidity and disappear with buyers’ funds. This motion causes the value of the token to drop dramatically.
Whereas Ripple’s CTO does not see a future within the BEN coin, Billy Markus, founding father of the brightest meme coin (DOGE), additionally expressed his disappointment with Armstrong’s announcement.
In a tweet, Markus known as the replace “fairly lame” after Armstrong revealed that he and two different individuals who answered to the title Ben would type the “Three Clever Bens” staff to guide the meme coin challenge. Marcus’s response brought on quite a lot of backlash, with some individuals calling for Armstrong to sue if the BEN coin ultimately went right down to zero.
When he hits 0 and does nothing, does that imply he could be sued? How does this match into the present authorized narrative
— Intelligent | Artist (@MadamSavvy) March 2023 Could 9
However, in accordance with Armstrong, the primary aim of the challenge is to remodel BEN from a meme coin to an attention-saving coin with a view to promote the adoption and use of cryptocurrencies. Armstrong expressed his admiration for the prevailing neighborhood round BEN and said that they may work collectively to realize extra constructive change.
Notably, the idea of attention-saving cash goals to reward customers for his or her consideration and engagement, making a self-sustaining ecosystem.
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