Scottie Pippen recommits to $BALL project amid backlash

After crypto observers and consultants identified shady exercise with the token, NBA Hall of Famer Scottie Pippen doubled down on his Ethereum mission to substantiate out to enhance confidence.

Pippen’s contentious Ethereum-primarily based entirely mostly BALL mission launched on Aug. 2, going thru instant backlash from the community. Users quick added community notes to Pippen’s announcement put up on X, warning investors to maintain away from the so-known as proper-world asset initiative.

Crypto sleuth ZachXBT highlighted that the BALL deployer deal with mirrored a wallet venerable for a minimal of two past scams, customarily known in web3 as rug pulls. ZachXBT additionally illustrious that Pippen launched a non-fungible token for the length of the NFT twilight in 2022, which failed and is extensively notion to be one more rug pull.

One other crypto observer equipped files exhibiting Pippen and the developer wallet dumping $330,000 worth of BALL tokens in a single transaction. In response, the six-time NBA champion claimed 103 Ether (ETH) in liquidity became as soon as withdrawn to “mitigate assaults” amid heavy scrutiny from the crypto community.

Pippen’s put up failed to quell doubts, as social media users replied with files exhibiting that BALL insiders controlled over 15% of BALL’s present.

Unsuccessful projects and controversy surrounding famous person crypto projects hang now not shadowy public figures from pouring into Web3. On the other hand, most launches hang occurred on Solana (SOL). As crypto.news reported, some 30 famous person memecoins debuted on Solana closing month. Lots of the projects flunked, leaving many affected users and growing animosity for current contributors entering the gap.