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Khamzat Chimaev’s Manager Responds to SMASH Coin Controversy After Insider Trading Allegations
Khamzat Chimaev’s Manager addresses the SMASH coin scandal involving Khamzat Chimaev. Find out what happened and how they're responding to insider trading claims. Read now!
Have you heard about the latest uproar in the cryptocurrency world involving UFC fighter Khamzat Chimaev? It's all about the SMASH coin, a meme coin that's crashing hard. Just days ago, Chimaev was promoting this new digital currency, urging fans to "smash" on SMASH.
But what happened next? Almost overnight, the coin plummeted by over 90%, sparking allegations of insider trading. Was this a simple case of bad luck or something more dubious? How did Chimaev get wrapped up in this, and what does his manager have to say about the fiasco?
Was SMASH coin a pump-and-dump scheme?
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.
"I was approached by a group claiming to be fans of my client Khamzat Chimaev. They wanted to record a short video promoting their launch. So I agreed to that, nothing more, nothing less." Despite the manager's claims of limited involvement, the backlash was swift after SMASH coin's value tanked dramatically.
Chimaev himself had promoted the coin just before its dive, urging his followers to join in on the investment. "There is one crypto coin about me. They call it SMASH," Chimaev said in a now-deleted video. "Let’s 'smash' together guys. Let’s go."
Shammas continued, expressing regret and seeking accountability. "Maybe I was misled. Khamzat wasn’t involved and knew just as little as you do," he explained. The unfolding situation paints a complex picture of misunderstanding and misplaced trust.
"So the news is really unpleasant and I’m seeking an explanation from those responsible," Shammas added, his apology sincere. "My apologies to Khamzat and all others of you affected by this, if I could have done anything differently."
'Rug Pull' allegations rock Chimaev's crypto coin
"Well, well, well. Just when I thought this guy couldn't be more of a disappointment. Khamzat Chimaev has topped it all," began a frustrated Twitter user. Chimaev launched his meme coin, SMASH, and promoted it through multiple videos with great enthusiasm. However, within 24 hours, the coin’s value plummeted over 90%, causing significant financial losses for his fans.
The Twitter user detailed the alleged "rug pull" scam, explaining how Chimaev and his team orchestrated the collapse. "Khamzat Chimaev and his team dropped a crypto coin called SMASH and made multiple videos promoting it to his followers. And in under 24 hours, he rugs the coin and steals up to a million dollars from his fans that invested in his coin."
This sudden drop left many investors with worthless tokens and a sense of betrayal. The rapid decline in SMASH's value has sparked outrage among fans and investors, questioning the ethics of celebrity-endorsed cryptocurrencies.
Shammas has promised to seek answers and provide updates, but the damage to Chimaev's reputation is done. So, what do you think? Can Chimaev and his team regain the trust of their fans, or has this controversy permanently tarnished their image?
Also Read: Five Times Canceled Fights Made UFC PPVs Better Ft Conor McGregor, Khamzat Chimaev And More
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