Accused of Spreading FUD Zeus Capital Doubles on Chainlink Pump and Dump Claims – Bitcoin News

Zeus Capital LLP released a new report reiterating its previous stance that Chainlink is a huge pump-and-dump system.

This new report comes after the little-known asset management and research firm took flak for the attack on Chainlink’s tokens in a previous report.

In what it now calls Part 1 of its synopsis, Zeus Capital LLP claims in its latest report that the 140+ partnerships announced by Chainlink to date are exaggerated. The asset management firm claims the project was created to enrich the founders.

Accused of distributing a FUD Zeus Capital doubles on Chainlink pump and dump claims

In the report, Zeus Capital LLP questions the announced groundbreaking partnerships with “technology giants like Google, Oracle and T-Systems”.

Zeus Capital LLP debunks Chainlink’s alleged practice, claiming it starts with “a large company showing off some of its products (usually via a blog post) and casually mentions Chainlink as the theoretical intermediary in delivering the product to blockchain customers” .

Zeus Capital LLP, which some Twitter users have linked to Nexo Finance, admits that Chainlink’s core proposition is to connect APIs to blockchains and that “quite a large number of legacy players can easily get involved”.

However, Zeus Capital LLP contends that the infrastructure that Chainlink supports is outsmarting the project and overrating partners’ willingness to proceed.

“Smartcontract and the people behind Chainlink are taking it from there and loudly proclaiming how badly the name of a big tech company wants to do business with them,” argues Zeus Capital LLP. This is done to support the price of the link.

To support this claim, Zeus Capital LLP gives an example: “When Chainlink announced the” integration “with Google, the price was USD 1.19 per link.” However, when Google tweeted the same thing a few hours later, “the price soared to $ 1.93, an astonishing 62% increase in less than 24 hours.”

Zeus Capital LLP goes on to argue that the Chainlink team has developed a state-of-the-art, self-fulfilling scheme. It allows them to “have full control over the price and give as many tokens to their true believers as they want while they stay happy”.

At the time of writing, Link was trading at USD 7.64 – just enough to make it the 10th largest token ahead of EOS.

Meanwhile, Zeus Capital LLP’s list of allegations against Chainlink includes pay-for-play systems, a variety of integrations with “dead” projects, and “outright lies about the size and nature of relationships”.

The asset management firm accuses industry leaders of “intentionally or unintentionally playing their part in this process”.

Despite detailing Chainlink’s suspected fraud program, Zeus Capital LLP itself is accused of spreading Fear, Doubt and Uncertainty (FUD) in the market in order to cut short and make a financial profit.

A statement by Zeus Capital LLP in its most recent report boldly states, “The current tokenomics and lack of commercial applications cannot justify Link’s price.”

Based on this assessment, Zeus Capital LLP recommends “Short selling Link with a price target of 7 US cents”.

On Twitter, Chainlink followers are fighting against Zeus’ prediction by encouraging their peers to buy link 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 youngest organizations to partner with Chainlink, Nexo Finance said in a statement on Telegram Channel that the company is targeted because “its employees are familiar with Chainlink and because its OTC desks deal with Link”.

In another twist, a UK-based investment bank with a name similar to Zeus Capital LLP has split from the asset management company.

In a statement, the investment bank said the following:

For the avoidance of doubt, we would like to point out that Zeus Capital Limited has not prepared or published any research on this subject and has no relationship or affiliation with Zeus Capital LLP.

It is not clear how the two have the same name, although the Zeus Capital LLP website lists Hong Kong as the main contact office.

What do you think of these Zeus claims? Let us know what you think in the comments section below.

Tags in this story

Blockchain, Chainlink, FUD, Investmentbank, LiNK, LINK-Token, Nexo, Pump and Dump, SmartContract, Tokenomics, Zeus Capital

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