JUPITER FACES BACKLASH OVER INFLUENCER COLLABORATION
#Jupiter #Meow #AsianMom #JupiterDEX
Decentralized crypto aggregator Jupiter is facing criticism after announcing a partnership with Irene Zhao, a Singaporean influencer known for her involvement in several controversial crypto activities.
Announcement Sparks Outrage
On July 22, Jupiter's anonymous founder, @weremeow, announced the collaboration on X (formerly Twitter). The partnership aims to enhance the "meme coin meta" and provide support for traders. The founder claimed that this initiative would tackle major issues in the current meme coin environment, such as "fake wide distribution, sniping," and "lying influencers."
However, the announcement was met with immediate backlash. The crypto community accused Jupiter of endorsing questionable practices by associating with Zhao.
Accusations of Dubious Dealings
Blockchain investigator ZachXBT pointed out the irony of this collaboration, highlighting Zhao's past with her project So-Col. ZachXBT alleged that Zhao engaged in opaque dealings, accusing her of deceiving early investors by making undisclosed agreements with DWF Labs.
Irene Zhao's Controversial Past
Irene Zhao gained fame in early 2022 by selling her photos as NFTs, earning over $5 million. She later launched an NFT collection called IreneDAO, which initially surged to a price floor of 1.49 ETH. However, according to CoinGecko data, the collection has since plummeted to 0.05 ETH, an 87% decline from its peak.
Community Reaction
The crypto community's reaction to Jupiter's announcement highlights the ongoing concerns about transparency and trust within the industry. Many users believe that partnering with Zhao could harm Jupiter's reputation and credibility.
Conclusion
Jupiter's collaboration with Irene Zhao has ignited a significant controversy within the crypto community. As the debate continues, it underscores the importance of transparency and ethical practices in the rapidly evolving world of decentralized finance.
