SMASH Coin: Khamzat Chimaev\'s Manager Breaks Silence on Alleged Cryptocurrency Scam
- WBOYOriginal
- 2024-07-10 17:24:50302browse
In the eye of the storm is Khamzat Chimaev's manager, Majdi Shammas, who recently stepped forward to clear the air. "I want to comment on the recent reports on the SMASH meme coin," Shammas began in his tweet, revealing the somewhat casual origins of their involvement.
UFC welterweight contender Khamzat Chimaev has found himself at the center of a cryptocurrency uproar following the spectacular crash of the SMASH coin, a meme coin that was promoted by the Swedish fighter.
Chimaev had promoted the coin in several videos, urging fans to "smash" on SMASH. However, the coin's value plummeted drastically, leading to allegations of insider trading and a possible 'rug pull' scam.
In response to the backlash, Chimaev's manager, Majdi Shammas, has stepped forward to provide an explanation. According to Shammas, a group approached him, claiming to be fans of Chimaev, and asked to record a short video promoting the launch of their coin. Shammas agreed to the request, but he maintains that Chimaev's involvement was limited to that video.
However, Chimaev himself had promoted the coin further, including in a now-deleted video where he directly encouraged fans to join the investment.
As the coin's value continued to plummet, Chimaev's role in its promotion has come under scrutiny, with some accusing him of promoting a coin that he knew was likely to fail. Others have defended Chimaev, arguing that he was likely not aware of the details of the coin or its operation.
The incident has sparked a wider discussion on the ethics of celebrity-endorsed cryptocurrencies and the responsibility of both the celebrities and the coin creators in ensuring transparency and fair practices.
Meanwhile, Chimaev's upcoming fight at UFC 293 against Gilbert Burns is still set to take place on March 5 at RAC Arena in Perth, Australia.
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