XCAD founder defends YouTuber KSI over pump and dump allegations
Xcad Network founder Oliver Bell has come to the defense of YouTuber KCI after he accused crypto researcher ZachXBT of conducting pump-and-dump scams on his digital assets, including the internet-famous XCAD.
In the year Crypto sleuth KSI cited other tokens and then released several more examples of selling the assets, which another crypto sleuth Kofizilla described as “the definition of pump and dump.”
A quick note from me about XCADs being mentioned in the recent KSI drama
KSI invested in XCAD on day zero. Out of our entire capital table, KSI is one of the most valuable, providing introductions, recommendations around the product.
He sold some XCAD he…
— Oliver Bell (@Oly245) February 15, 2024
Bell responded the next day, saying YouTube had every right to sell the tokens. On February 15, Bell said in a post that KSI was one of their “biggest value partners” who provided introductions and feedback around the product. The executive argued that when KSI sold some tokens, YouTube “bought more” than it sold.
Bell did not drop KSI Pump and XCAD directly against the charges. Bell writes that KSI is an active investor and believer who has “other wallets” and is among their “strongest” supporters.
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In addition to Bell, a longtime supporter who goes by the name Vibhor has published a 36-page document defending YouTube. According to Vibhor, who said he might be biased against KSI, YouTube only shares anything he does on X and is known for “instantly turning his mind”. The fan compared KSI to CNBC host Jim Cramer, whose call to assets could create the opposite. Vibhor wrote:
“Whenever he says he's buying crypto, that crypto goes down and whenever he says he's selling crypto, that crypto goes up. There's a meme based on this to do the opposite of everything KSI does. And KSI himself has admitted this many times.”
However, crypto researcher Coffeezilla is still not convinced by the argument. In a video response, Coffizilla said it's not about being a good or bad caller. The crypto-investigator argues that this does not explain why KSI's trade is the opposite of what he claims. He added that if Cramer said something and acted on it, “that's pump and dump” and “it's not ethical to do that.”
You've clearly made a fool of yourself.
You've got 2 million audience reach -> tweet them that they're buying and holding it -> get 2m of those to buy -> sell directly when they buy.
The video will alert your audience for next time, and will justify the creation of the video.
— MC (@UtdMicah) February 15, 2024
Meanwhile, one member of the community believes KSI – real name Olajide Olayinka Williams Olatunji – acted maliciously, while another thinks it's the result of being friends with Logan Paul, who is facing a class-action lawsuit over a collection of useless tokens.
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