Oliver Bell, the founder of the Xcad Network, has stepped forward to defend YouTuber KSI against accusations made by crypto investigator ZachXBT.
ZachXBT alleged that the internet personality engaged in a pump-and-dump scheme involving his digital asset tokens, including XCAD.
On February 14th, ZachXBT shared screenshots of KSI’s X account promoting XCAD followed by a significant sale of $850,000 worth of tokens in the subsequent days.
This led another crypto investigator, Coffeezilla, to describe KSI’s actions as a classic “pump and dump.”
Bell issued a response the following day, asserting KSI’s right to sell his tokens.
On February 15th, Bell stated in a post that KSI had been a major contributor to their platform, providing valuable input and introductions.
See Also: Popular Youtuber, KSI, Accused Of Pump-And-Dump Schemes, Crypto Market Manipulation
He argued that while KSI sold some tokens, he had also bought a substantial amount, refuting the notion of a pump and dump.
Bell directly refuted the allegations, maintaining that KSI had not engaged in a pump and dump with XCAD. He highlighted KSI’s continued involvement as an investor and supporter.
In addition to Bell’s defence, a devoted fan named Vibhor released a 36-page document supporting KSI.
Vibhor, admittedly biased towards KSI, stated that the YouTuber shares his crypto activities openly and is known for quickly changing his positions.
The fan likened KSI’s influence on crypto to that of CNBC host Jim Cramer, whose actions sometimes have an inverse effect on assets.
However, Coffeezilla remains unconvinced by these arguments.
In a response video, Coffeezilla contended that KSI’s actions of trading contrary to his public statements are indicative of unethical behaviour, akin to a pump and dump.
Amidst the controversy, some community members believe KSI acted with malice, while others attribute his behaviour to his association with Logan Paul, who faces legal issues over a nonfungible token collection.
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