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Home” Meme Coins” MIRA daddy Siqi Chen deals with reaction over questionable ZERO token launch
by
Vivian Nguyen
Dec. 31, 2024
Proof appeared recommending that Siqi was not unskilled with crypto like he stated.
Secret Takeaways
- Siqi Chen introduced the ZERO token with a caution however it still reached big worth before crashing.
- Chen dealt with allegations of a carpet pull regardless of declaring to redeem and burn the tokens.
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Runway CEO Siqi Chen, dad of little Mira, a four-year-old dealing with an unusual brain growth, has actually dealt with neighborhood reaction after introducing a test token called “ ZERO, which struck$ 6 million in market price quickly after its launching before crashing by practically 70%.
Source: GeckoTerminal
Siqi has actually just recently gotten attention for his sincere plea on social networks, which resonated deeply with lots of as he looked for assistance for his child Mira, who is fighting an unusual brain growth.
On December 25, a crypto trader produced the MIRA token and moved half of the overall supply to Siqi, intending to support Mira’ s fight. As Crypto Briefing formerly reported, Siqi liquidated part of his holdings, a method that got strong support from the neighborhood as it was the token’ s function.
The narrative took a turn when Siqi revealed on X that he introduced a test token called “ ZERO on December 30. He consisted of a subsiding specifying “ this token is going to absolutely no and you will absolutely lose all your cash. Do not purchase it.”
Regardless of his specific caution, financiers gathered to purchase the ZERO token. Confronted with this unforeseen need, Siqi stated he stressed and offered 40% of the token supply, netting an earnings of 444 SOL.
Following this sale, the token’ s worth dropped by 40%, causing extensive criticism and allegations of a carpet pull. Dealing with installing neighborhood reaction, Siqi stated in a follow-up post that he had actually utilized the whole revenues to redeem and burn the tokens.
I m still discovering how this all works,” Siqi stated in his apology for the event.
Blockchain private investigator ZachXBT, nevertheless, exposed that Siqi was not the crypto beginner he depicted himself to be. Vice versa. Proof appeared indicating his participation in crypto financial investments going back to 2021, consisting of ownership of NFTs valued at over $240,000.
ZachXBT mentioned that Siqi had actually formerly been associated with activities looking like pump-and-dump plans.
Source: ZachXBTSource: ZachXBT
Siqi stated he would repay afflicted financiers utilizing his individual funds.
This is an establishing story.
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