ZachXBT criticizes crypto KOL Ansem, accusing him of facilitating "pump and dump" activities for MEME tokens

ChainCatcher news, on-chain detective ZachXBT fiercely criticized cryptocurrency KOL Zion "Ansem" Thomas, accusing him of facilitating a series of MEME token "pump and dump" activities. The first mention of Thomas referred to MEME supporter Murad Mahmudov's "Memecoin Supercycle" speech at the Token 2049 conference, accusing Thomas of promoting tokens to his followers rather than those that truly have market advantages. Mahmudov was the Chief Investment Officer of Adaptive Capital, a crypto hedge fund that collapsed in March 2020 due to market downturns.

ZachXBT criticized, "If you have to promote new low-market-cap memecoins to your followers every few days, it indicates that you have no market advantage and can only exploit your followers." Wolk believes that Thomas is also involved in such behavior. Thomas has over 507,000 followers on X, and ZachXBT claims that his influence over low-market-cap tokens is excessive, which could lead many followers to incur losses chasing the hype of memecoins.

Thomas responded by mentioning that he recommended the token when WIF had a market cap of $100,000, which later peaked at $4.8 billion in March this year. He believes this is "much better" than promoting utility-based tokens like Chainlink (LINK), as LINK has dropped 90% against Bitcoin since the beginning of the year.