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Tuesday, June 25, 2024

Over BitBoy’s Move to BEN Coin, Ripple’s CTO Discovers Rugpull Signs

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  • The CTO of Ripple calls BEN Coin a “rug pull.”
  • In the past 24 hours, BEN has seen a drop of 34.65%.

David Schwartz, the CTO of Ripple, has commented on the dispute related to Ben “BitBoy” Armstrong’s decision to join the BEN coin team. David Schwartz, took to Twi

tter to express his complete agreement. That the BEN meme coin project is a rug pull, particularly in light of Armstrong’s decision to join the team.

When it comes to cryptocurrencies and decentralized finance (DeFi), a rug pull is a fraudulent activity in which the project creators pull out all the liquidity from a project and flee with the funds contributed by investors.

BEN Price Plummets by 34%

As per reports, Armstrong’s vision for the BEN project is to shift its focus from being a meme coin to an attention economy coin. That can foster the widespread adoption and usage of cryptocurrencies. Reportedly, Bitboy stated on Twitter that he is prepared to wager 5 Bitcoin (BTC). And that BEN’s market capitalization will be greater in one year than it is at present.

I’ll take that bet. I’ll bet 5 BTC https://t.co/t7Agnk5XVx

— Ben Armstrong (@Bitboy_Crypto) May 10, 2023

In response to a forecast by Crypto Banter YouTube channel host Ran Neuner, who predicted that BEN’s market capitalization would be lower in the coming year and was willing to bet on the projection, BitBoy accepted the challenge and suggested a bet of 5 BTC.

During the meme season, which fueled by the success of Pepe coin (PEPE), the BEN token emerged as a newcomer in the crypto space. During the past day, the trading price of BEN has witnessed a substantial decrease. Fell by 34.65%, and is currently trading at $0.00000005767. The total trading volume for this duration was $41,918,380.

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