Kanye released information about declining a $2 million promotion opportunity to endorse a deceptive cryptocurrency investment. Through his X formerly Twitter posts the rapper entrepreneur revealed the extent of his encounter with a proposal to promote a fake token before he reported his account had been hacked.
The Alleged Crypto Scam Proposal
West posted an image of the proposal on his feed that detailed his role in endorsing a fraudulent project through social media. The communicator proposed giving him a first payment of $750,000 if he posted material and kept it active on Facebook for at least eight hours. The supplier told him to pretend his account had been hacked after this time. The hoax project planned to pay him another $1.25 million after sixteen hours had passed to continue attracting investors even though the operation would eventually fade away.
A person offered me 2 million dollars to carry out a scam against my community. Those left of it. The individual who suggested the idea approached West proposing a deal but he declined and cut ties with the company maintaining the proposal.
Kanye West’s Conversation Sparks Speculation
Right after disclosing this offer West published a new screenshot depicting him requesting direct cryptocurrency connections from an unidentified source. An individual mentioned Brian Armstrong because they felt they could provide West with access to his phone number through Coinbase.
Crypto community members have speculated regarding West’s future purpose for launching a genuine cryptocurrency project since he shared this post. Several members of the industry have different views about whether West is genuinely pursuing space opportunities or if his posts are part of a marketing scheme.
Community Reaction and Crypto Experts Weigh In
The crypto community along with investors applauded West when he turned down the deal because they wanted to distance themselves from celebrity-based fraudulent crypto projects. The crypto industry depends on public figures to boost credibility for its fraudulent endeavors before they drain investor funds.
The crypto community supporter Armeanio proposed that West should benefit from blockchain technology for merchandise sales rather than launching his cryptocurrency. These types of crypto tokens tend to generate price corrections in the retail market according to him. According to the crypto analyst Crypto Vic West could be creating hype for a new upcoming venture or upcoming album release. According to the analyst West shows exceptional marketing skills.
The Rise of Celebrity-Backed Crypto Projects
The current period sees several famous individuals attempting cryptocurrency ventures but have produced varying success levels as West makes his announcement. Risk alerts have emerged due to influential figures and public personalities including U.S. President Donald Trump and social media star Hailey Welch launching memecoins into the market. Some cryptocurrency tokens have displayed large price swings but certain others have faced allegations regarding complete fraud.
The crypto community actively discusses West’s latest statements even though he has shown no intention of creating his cryptocurrency at present. It remains uncertain if he will launch a credible project in the market.
This news is republished from another source. You can check the original article here
