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 mission has been created to complement the founders.
Within the report, Zeus Capital LLP questions the introduced game-changing partnerships with “expertise giants, akin to Google, Oracle, and T-Methods.”
Unmasking Chainlink’s alleged modus operandi, Zeus Capital LLP claims it begins with “a big firm showcasing some of their merchandise (often by way of a weblog submit) and casually mentioning Chainlink as a theoretical middleman in delivering the product to blockchain purchasers.”
Zeus Capital LLP, which some Twitter customers have linked to Nexo Finance, admits that Chainlink’s core proposition is to attach APIs with blockchains and “so a fairly good quantity of legacy gamers can simply be concerned.”
Nonetheless, Zeus Capital LLP contends that the infrastructure supporting Chainlink is overhyping the mission in addition to overstating the companions’ eagerness to proceed.
“Smartcontract and the folks behind Chainlink are taking it from there, loudly saying how a giant tech firm’s title is raring to do enterprise with them,” argues Zeus Capital LLP. That is carried out to shore up the value of Hyperlink.
To assist this declare, Zeus Capital LLP provides an instance “when Chainlink introduced the ‘integration’ with Google, the value was USD 1.19 per Hyperlink.” Nonetheless, when Google tweeted about the identical a number of hours later, “the value skyrocketed to USD 1.93, up by a staggering 62% in lower than 24 hours.”
Zeus Capital LLP additional argues that Chainlink’s staff has engineered a state-of-the-art self-fulfilling scheme. It permits them “to take care of full management over the value and dump as many tokens to their true believers as they need whereas conserving them pleased.”
On the time of writing, Hyperlink traded at USD 7.64 – simply sufficient to make it the 10th most capitalized token forward of EOS.
In the meantime, Zeus Capital LLP’s checklist of allegations towards Chainlink contains pay-for-play schemes, a plethora of integrations with “useless” initiatives in addition to “outright lies concerning the measurement and sort of the relationships.”
The asset administration agency additionally accuses industry-leading retailers of “intentionally or unintentionally taking part in their function within the course of.”
Nonetheless, 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 a purpose to brief and make a monetary acquire.
An announcement by Zeus Capital LLP in its newest report, boldly states that “the present tokenomics and lack of business functions can not justify Hyperlink’s worth.”
Based mostly on this evaluation, Zeus Capital LLP “is recommending short-selling Hyperlink with a goal worth of 7 US cents.”
On Twitter, Chainlink supporters are combating again towards Zeus’ prediction by encouraging friends to purchase Hyperlink tokens this weekend.
In the meantime, Nexo Finance, which has been linked to the exposé, has reportedly distanced itself from Zeus Capital LLP.
As one of the most recent organizations to companion Chainlink, Nexo Finance mentioned in a Telegram channel assertion that it’s being focused as a result of its “workers is effectively versed with the Chainlink topic and as a result of its OTC desks deal in Hyperlink.”
In one other twist, a UK primarily based funding financial institution which shares the same title with Zeus Capital LLP has disassociated itself from the asset administration agency.
In a press release, the funding financial institution mentioned the next:
For the avoidance of doubt we wish to state that Zeus Capital Restricted 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 title though Zeus Capital LLP’s web site lists Hong Kong as its major contact workplace.
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