Jason Derulo Accused of Trading His JASON Crypto Token Despite Pledging Not To
Summary:
American singer Jason Derulo has reportedly sold a large portion of his recently released cryptocurrency token, JASON, contradicting his previous statements of "never selling." According to Bubblemaps, this was part of a deliberate strategy involving the controversial co-creator of the token, Sahil Arora. Despite allegations of Arora duping Derulo, the singer's actions, including promoting the token and igniting buy competitions, suggest otherwise. As a result, despite some fluctuations, the value of the JASON token increased significantly.
The American vocalist, Jason Derulo, has reportedly traded a significant portion of his recently introduced cryptocurrency token, JASON, for thousands of dollars. This runs contrary to his repeated declarations of "NEVER SELLING," reveals data analytics company, Bubblemaps. Coincidentally, Sahil Arora, the co-inventor of the token, who has had controversial encounters in the past, disclosed to Cointelegraph that this was an intentional strategy.
Previously in the week, Derulo, whose birth name is Jason Desrouleaux, unveiled a contract address for the Solana-based token on June 23. This led to a surge in trading engagements and erratic price fluctuations within minutes, as per insights from DEX Screener. Subsequently, Derulo attributed the incendiary incident to Sahil Arora, a known controversial figure and notorious promoter of celebrity memecoins, but pledged to put his utmost effort into boosting the token's value.
Contradicting Derulo's erstwhile accusations, Bubblemaps posits on June 24, that the singer was not tricked by Arilo. On their part, Bubblemaps discovered wallets, presumably linked to Arora, containing nearly half of JASON's total supply. These wallets supposedly offloaded most of their holdings, raking in a substantial profit of $180,000, right after Derulo initially publicized the token.
Additionally, Bubblemaps implicated Derulo in their findings, alleging that a wallet containing JASON tokens received directly from Arora's wallet was traced back to him. Notwithstanding Derulo's alleged assertions on different platforms that he had no intentions of selling the tokens, it seems the musician traded approximately $20,000 worth of them. Discrepancies between Derulo's purported actions and those of an individual claiming to have been duped were observed by Bubblemaps.
Derulo's immediate request for a Space from Ansem, his orchestration of buy competitions, statements about burning tokens, as well as rallying up his community, were actions inconsistent with his allegations and were noted as such by Bubblemaps.
In response to Bubblemaps' allegations, Arora informed Cointelegraph that it's all a ploy and that both he and Jason Derulo had vested interests in it. Regarding questions about Derulo's token sales affecting this scheme, Arora cryptically replied with a gif of Hasbulla, the Dagestani influencer, uttering "business, business." Nevertheless, attempts to reach Derulo for his comments were unfruitful.
Regardless of the turmoil, the plan appeared to have been effective; as the last day saw the JASON token's value leap by 175%, bringing its market cap to $7.7 million. However, at the time of writing, it is down by 40.5% from its highest value of slightly over one cent recorded on June 24. There are also rumors about celebrity price lists proposed by a renowned mastermind of meme coin, Caitlyn Jenner, being leaked.
Published At
6/25/2024 8:39:27 AM
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