ZachXBT accuses crypto influencer Ansem of promoting memecoin ‘pump and dumps’

Blockchain sleuth Zachary Wolk — known online as ZachXBT — has slammed crypto influencer Zion “Ansem” Thomas, accusing him of facilitating a string of memecoin “pump and dumps.”

In a heated exchange Oct. 5 exchange on X, Wolk and Thomas went back and forth over what Wolk alleged was Thomas’ role in shilling a swathe of “low cap” Solana (SOL) memecoins. 

Wolk first mentioned Thomas while discussing memecoin bull Murad Mahmudov’s “Memecoin Supercycle” speech at Token 2049 last month, accusing him of promoting coins to his followers in place of having a legitimate “edge” on the market. 

Mahmudov was the CIO of Adaptive Capital, a crypto hedge fund that collapsed in March 2020 amid a wider market downturn. He has since generated a large following on X by advocating for the role of memecoins in crypto and posting lists of his top memecoin picks. 

“If you resort to promoting new low cap memecoins every few days to followers as a large account it’s [because] you have no edge and have to use your followers instead,” said Wolk, claiming that Thomas was also complicit in this behavior. 

Source: ZachXBT

Thomas asked Wolk why “talking about lowcaps” — referring to memecoins with a small market capitalization — was considered to be “grifting.”

Wolk claimed that Thomas — who has more than 507,000 X followers — has an outsized capacity to influence tokens with smaller valuations, something he said could lead many of his followers to lose money by chasing memecoin pumps. 

Thomas retorted by claiming that his calling out Dogwifhat (WIF) to his followers at a $100,000 market cap — which later ran to a peak value of $4.8 billion in March — was much “better” than promoting a utility-based token such as Chainlink (LINK) which is down 90% against Bitcoin (BTC) year-to-date. 

Wolk lashed back, accusing Thomas of shilling “hundreds” of low-cap coins, including BODEN, HOBBES, ZEUS, and WYNN, as well as several celebrity memecoins including those from pop stars Jason Derulo and Davido.

Source: ZachXBT

“The ‘low cap garbage’ you talk about has dominated 90% of retail…

..

Source

Recommended For You

Leave a Reply

Your email address will not be published. Required fields are marked *

Social Media Auto Publish Powered By : XYZScripts.com