Popular podcast host Joe Rogan has weighed in on the controversy surrounding UFC middleweight Khamzat Chimaev’s involvement with the “Smash” cryptocurrency, which saw its value plummet by over 90% after the fighter promoted it on social media.
The incident, which blockchain analyst Zack XBT identified as a coordinated pump-and-dump scheme, has led to significant backlash against Chimaev and reportedly resulted in him parting ways with his management team, including (now former) manager Majdi Shammas.
Speaking on episode #2286 of The Joe Rogan Experience, Rogan offered a different perspective on the situation.
“There was this one coin that Khamzat Chimaev, the UFC fighter, released. They were claiming that he did a pump-and-dump [and] ripped off his fans. I’m like, yeah, you can’t rip off your fans, obviously, but I don’t know if the people buying those coins are even fans. I think they’re gamblers…[They are] trying to figure out when to buy and sell. It’s like a casino at that point,” Rogan said.
The controversy has also affected Chimaev’s other crypto ventures. He was previously the sole ambassador for “Gcoin,” which marketed itself as an Islamic-compliant cryptocurrency. Following the “Smash” scandal, Gcoin has removed Chimaev from their website and delayed their planned exchange listing.
Rogan questioned the selective outrage over cryptocurrency losses compared to traditional gambling: “Are we mad at the casino when someone blows all their money playing roulette? No, because that’s what they signed up for… People win money in roulette, or they don’t. But if you lose, we’re not mad at the casino. So why are we mad when someone loses money in meme coins? What the f*ck did you think was going to happen?”
The timing of the controversy coincided with Chimaev’s preparation for his bout against Robert Whittaker at UFC 308 in Abu Dhabi on October 26th. Chimaev managed to submit Whittaker and is likely the next in line for a crack at the middleweight title.
