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Ripple’s CTO finds signs of rugpull in BitBoy’s transition to BEN Coin

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  • Ripple’s CTO labels BEN Coin as a “rug pull.”
  • BEN has experienced a 34.65% drop in the last 24 hours.

David Schwartz, the Chief Technology Officer of Ripple, has shared his thoughts on the controversy surrounding Ben “BitBoy” Armstrong join the BEN coin team. In a tweet, Schwartz expressed his opinion.

David Schwartz, the Chief Technology Officer of Ripple, has voiced his opinion about the controversy surrounding Ben “BitBoy” Armstrong joining the BEN coin team. Schwartz shared his agreement on Twitter, stating that he believes the BEN meme coin project is a rug pull, especially considering Armstrong’s decision to join the team.

In the world of cryptocurrencies and decentralized finance (DeFi), a rug pull refers to a deceitful act where the creators of a project withdraw all the funds invested by participants and disappear. It is a fraudulent activity that leaves investors empty-handed.

BEN Price Plummets by 34%

According to reports, Armstrong wants to transform the BEN project from a meme coin to an attention economy coin. His goal is to encourage the widespread adoption and use of cryptocurrencies. On Twitter, he expressed his confidence by offering to bet 5 Bitcoin (BTC) that BEN’s market capitalization will be higher in one year compared to its current value.

( Ref. https://t.co/t7Agnk5XVx — Ben Armstrong (@Bitboy_Crypto) May 10, 2023.

After Ran Neuner, the host of the Crypto Banter YouTube channel, predicted that BEN’s market capitalization would decrease in the next year and offered to bet on it, BitBoy accepted the challenge. BitBoy proposed a bet of 5 BTC to support his belief that BEN’s market capitalization will actually increase.

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During the meme craze, inspired by the popularity of Pepe coin (PEPE), the BEN token emerged as a new player in the world of cryptocurrencies. However, in the last 24 hours, the price of BEN has experienced a significant decline of 34.65%. It is currently being traded at a value of $0.00000005767. The total volume of trades during this period reached $41,918,380.

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