The creator of the Xcad Network, Oliver Bell, defended YouTuber KSI after the online personality was accused by crypto investigator ZachXBT of using his digital asset tokens, including XCAD, in a pump-and-dump scheme.Screenshots of KSI’s X account posting about XCAD and then dumping $850,000 of the tokens in the days that followed were published by ZachXBT on February 14.Another crypto investigator, Coffeezilla, referred to the multiple instances of KSI citing other tokens and then selling the assets that the crypto detective had uploaded as the “definition of a pump and dump.”
The following day, Bell responded on social media, claiming that the YouTuber was fully entitled to sell his tokens.Bell stated in a post dated February 15 that one of their “biggest value adders” was KSI, which introduced and offered recommendations for the product.Although KSI did sell some tokens, the executive contended that the YouTuber “bought a lot more” than he did.
Aside from Bell, a devoted follower going by the handle Vibhor wrote a 36-page defense of the YouTuber.Vibhor, who acknowledged that he might have a prejudice in favor of KSI, said that the YouTuber solely posts about his cryptocurrency activities on X and is well-known for “flipping his mind instantly.”The fan likened KSI to CNBC anchor Jim Cramer, whose calls have the potential to have the opposite effect on assets. Vibhor penned.
“Whenever he says he is gonna HOLD a crypto, that crypto will go down and whenever he says it is time to sell a crypto, that crypto will go up. There is a meme based on this to do the opposite of whatever KSI is doing. And KSI himself has acknowledged that many times.”
The crypto investigator Coffeezilla, nevertheless, is still unconvinced.Coffeezilla claimed in a rebuttal video that it isn’t about being a good or bad caller.The crypto investigator countered that this does not account for KSI trading in the other direction.“That’s a pump and dump,” he continued, and “it’s not ethical to do” if Cramer says one thing and trades against it.
While some community members assume that KSI, whose full name is Olajide Olayinka Williams Olatunji, acted intentionally, others believe that it was a result of their friendship with Logan Paul, who is the subject of a class-action lawsuit regarding a collection of nonfungible tokens.