MIRA papa Siqi Chen deals with reaction over questionable ZERO token launch

  • January 2, 2025
MIRA papa Siqi Chen deals with reaction over questionable ZERO token launch

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Home” Meme Coins” MIRA papa Siqi Chen deals with reaction over questionable ZERO token launch

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Vivian Nguyen

Dec. 31, 2024

Proof emerged 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 in spite of declaring to redeem and burn the tokens.

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Runway CEO Siqi Chen, daddy of little Mira, a four-year-old dealing with an uncommon brain growth, has actually dealt with neighborhood reaction after introducing a test token called “ ZERO, which struck$ 6 million in market price soon after its launching before crashing by nearly 70%.

Source: GeckoTerminal

Siqi has actually just recently acquired attention for his genuine plea on social networks, which resonated deeply with lots of as he looked for assistance for his child Mira, who is fighting an uncommon brain growth.

On December 25, a crypto trader developed 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 technique 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 released 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 a revenue of 444 SOL.

Following this sale, the token’ s worth dropped by 40%, resulting in prevalent 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 newbie he represented 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 compensate afflicted financiers utilizing his individual funds.

This is an establishing story.

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