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 a 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.
In the report, Zeus Capital LLP questions the introduced game-changing partnerships with “know-how giants, corresponding to Google, Oracle, and T-Systems.”
Unmasking Chainlink’s alleged modus operandi, Zeus Capital LLP claims it begins with “a big firm showcasing a few of their merchandise (normally through a weblog submit) and casually mentioning Chainlink as a theoretical middleman in delivering the product to blockchain shoppers.”
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 fairly good variety of legacy gamers can simply be concerned.”
Still, 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 an enormous tech firm’s title is keen to do enterprise with them,” argues Zeus Capital LLP. This is completed to shore up the worth of Link.
To help this declare, Zeus Capital LLP provides an instance “when Chainlink introduced the ‘integration’ with Google, the worth was USD 1.19 per Link.” However, when Google tweeted about the identical just a few hours later, “the worth 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 keep up full management over the worth and dump as many tokens to their true believers as they want whereas protecting them completely satisfied.”
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 listing of allegations in opposition to Chainlink consists of pay-for-play schemes, a plethora of integrations with “useless” tasks in addition to “outright lies concerning the dimension and sort of the relationships.”
The asset administration agency additionally accuses industry-leading retailers of “intentionally or unintentionally enjoying their position within the course of.”
However, regardless of detailing Chainlink’s alleged fraud scheme, Zeus Capital LLP itself stands accused of spreading concern, doubt, and uncertainty (FUD) available in the market as a way to brief and make a monetary acquire.
A press release by Zeus Capital LLP in its newest report, boldly states that “the present tokenomics and lack of economic functions can not justify Link’s worth.”
Based on this evaluation, Zeus Capital LLP “is recommending short-selling Link with a goal worth of seven 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 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 since its OTC desks deal in Link.”
In one other twist, a UK based mostly funding financial institution which shares the same title with Zeus Capital LLP has disassociated itself from the asset administration agency.
In an announcement, the funding financial institution mentioned the next:
For the avoidance of doubt we wish 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 any respect.
It not clear how the 2 share the identical title though Zeus Capital LLP’s web site lists Hong Kong as its principal contact workplace.
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