1/23/2023 0 Comments Faze jarvis![]() ![]() The Save the Kids alt-coin controversy was brought to public attention by YouTuber SomeOrdinaryGamers, who on Saturday made a nearly 40-minute video about the influencer ambassadors for Save the Kids. It remains unclear what the exact relationship between the ambassadors and Save the Kids org was. Such schemes often involve a crypto coin partnering with an influencer and paying them in the coin itself, so the influencer can cash in the second the coin is released to the public. ![]() ![]() Many have since accused "Save the Kids" and those who promoted it of creating an influencer "pump and dump" scam, causing a PR crisis for all the brand ambassadors who pushed the coin.Ī pump-and-dump scam is when a group of influential people hype up the value of a product, like this crypto-coin, and then once the value is high they dump their assets at the expense of those they convinced to invest in the coin. After the full release, large holders of pre-sale tokens reportedly flooded the market with their tokens causing those who bought the coin to lose money. The value of the $KIDS coin crashed very quickly after FaZe Clan members and other online influencers including Sommer Ray and Rice Gum encouraged their fans to invest in the token.
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