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Zeus Capital LLP has launched a brand new report reiterating its earlier stance that Chainlink is a huge pump and dump scheme.
This new report comes after the little identified asset administration and analysis agency took flak for attacking Chainlink’s token in an earlier report.
In what it now phrases half 1 of its exposé, Zeus Capital LLP asserts within the newest report that the over 140 partnerships introduced by Chainlink to date are an exaggeration. The asset administration agency contends the challenge has been created to enrich the founders.
In the report, Zeus Capital LLP questions the introduced game-changing partnerships with “technology giants, such as Google, Oracle, and T-Systems.”
Unmasking Chainlink’s alleged modus operandi, Zeus Capital LLP claims it begins with “a large company showcasing some of their products (usually via a blog post) and casually mentioning Chainlink as a theoretical intermediary in delivering the product to blockchain clients.”
Zeus Capital LLP, which some Twitter customers have linked to Nexo Finance, admits that Chainlink’s core proposition is to attach APIs with blockchain and “so a pretty good number of legacy players can easily be involved.”
Still, Zeus Capital LLP contends that the infrastructure supporting Chainlink is overhyping the challenge in addition to overstating the companions’ eagerness to proceed.
“Smartcontract and the people behind Chainlink are taking it from there, loudly announcing how a big tech company’s name is eager to do business with them,” argues Zeus Capital LLP. This is finished to shore up the worth of Link.
To assist this declare, Zeus Capital LLP offers an instance “when Chainlink announced the ‘integration’ with Google, the price was USD 1.19 per Link.” However, when Google tweeted about the identical just a few hours later, “the price skyrocketed to USD 1.93, up by a staggering 62% in less than 24 hours.”
Zeus Capital LLP additional argues that Chainlink’s workforce has engineered a state-of-the-art self-fulfilling scheme. It permits them “to maintain full control over the price and dump as many tokens to their true believers as they wish while keeping them happy.”
At the time of writing, Link traded at USD 7.64 simply sufficient to make it the 10th most capitalized token forward of EOS.
Meanwhile, Zeus Capital LLP’s checklist of allegations in opposition to Chainlink contains pay-for-play schemes, a plethora of integrations with “dead” tasks in addition to “outright lies about the size and type of the relationships.”
The asset administration agency additionally accuses industry-leading retailers of “deliberately or unintentionally playing their role in the process.”
However, regardless of detailing Chainlink’s alleged fraud scheme, Zeus Capital LLP itself stands accused of spreading worry, doubt, and uncertainty (FUD) available in the market with the intention to quick and make a monetary acquire.
An announcement by Zeus Capital LLP in its newest report, boldly states that “the current tokenomics and lack of commercial applications cannot justify Link’s price.”
Based on this evaluation, Zeus Capital LLP “is recommending short-selling Link with a target price of 7 US cents.”
On Twitter, Chainlink supporters are combating again in opposition to Zeus the Capital LLP prediction by encouraging friends to purchase Link tokens this weekend.
Meanwhile, Nexo Finance, which has been linked to the exposé, has reportedly distanced itself from Zeus Capital LLP.
As one of many newest organizations to accomplice Chainlink, Nexo Finance prompt stated in a Telegram channel assertion that it’s being focused as a result of its “staff is well versed with the Chainlink subject and because its OTC desks deal in Link.”
In one other twist, a UK based mostly funding financial institution which shares the same identify with Zeus Capital LLP has disassociated itself from the asset administration agency.
In a press release, the funding financial institution stated the next:
For the avoidance of doubt we want to state that Zeus Capital Limited has not produced or printed analysis on this topic and has no relationship or affiliation with Zeus Capital LLP in anyway.
It not clear how the 2 share the identical identify though Zeus Capital LLP’s web site lists Hong Kong as its fundamental contact workplace.
What do you consider these Zeus claims? Tell us your ideas within the feedback part under.
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