Former UFC champ Sean Strickland has shed light on the recent cryptocurrency controversy surrounding Khamzat Chimaev, suggesting that Chimaev may have received a substantial sum for his involvement in what appears to be a crypto scam.
In a tweet, Strickland claimed he was offered “a ton of money to do this same exact thing,” referring to Chimaev’s promotion of the SMASH token. Strickland later specified that he was offered “$100k and a percentage of profits” for a similar promotion.
This revelation comes in the wake of Chimaev’s attempt to distance himself from the SMASH token controversy. Chimaev posted a video featuring a developer associated with the token, who claimed Chimaev had no direct involvement and that they had only been in contact with his manager.
However, on-chain investigator ZachXBT had previously exposed the project, revealing that up to 78% of the token supply was bought by insiders and developer-related wallets, suggesting a potential pump-and-dump scheme. ZachXBT’s analysis showed that two wallets initially funded most of the SMASH transactions conducted by the team, with approximately $250K+ of SMASH tokens purchased through these wallets.
The developer in Chimaev’s video admitted to sniping 80% of the supply but denied causing the token’s major downfall, insisting that “there is no scam.” This explanation, however, seems to contradict the evidence presented by ZachXBT and fails to address the core issues raised.
Strickland’s revelation not only provides insight into the potential financial incentives behind such promotions but also casts doubt on Chimaev’s claimed ignorance of the situation. The incident has raised questions about the ethics of celebrity endorsements in the cryptocurrency space and the potential risks to fans who may be influenced by such promotions.
As of now, Chimaev has not directly commented on the situation, though all promotional material related to SMASH has been removed from his social media accounts. The controversy continues to unfold, leaving many in the MMA and crypto communities questioning the integrity of such endorsements and the potential consequences for those involved.
