ZachXBT slams crypto influencer Ansem for facilitating “pump and dump” of MEME tokens

BlockBeats news, on October 7, the chain detective ZachXBT slammed the cryptocurrency KOL Zion "Ansem" Thomas, accusing him of facilitating the "pump and dump" of a series of MEME tokens.

When Thomas was first mentioned, he talked about the "Memecoin Super Cycle" speech by MEME supporter Murad Mahmudov at the Token 2049 conference, and accused Thomas of promoting tokens to his followers instead of having a real advantage in the market. Mahmudov was the chief investment officer of Adaptive Capital, a crypto hedge fund that collapsed in March 2020 due to market declines.

ZachXBT criticized that "if you have to promote a new low-market-cap memecoin to your followers every few days, it means you don't have any market advantage and can only use your followers." Wolk believes that Thomas also participated in this behavior. Thomas has more than 507,000 followers on X, and ZachXBT claims that he has too much influence on small-cap tokens, which may have caused many followers to lose money by chasing the hype of memecoins.

Thomas responded by mentioning that he had recommended WIF to followers when it was worth $100,000, and the token later peaked at $4.8 billion in March of this year. He believed that this was "much better" than promoting utility-based tokens like Chainlink (LINK), as LINK has fallen 90% against Bitcoin since the beginning of the year.

The two sides argued about the performance of multiple low-cap tokens promoted by Thomas, including President Biden-themed BODEN, which has fallen 99% since its all-time high in April, and other tokens such as HOBBES, ZEUS and WYNN have also fallen by about 98%.