Fast Facts
- Copycat meme coins using ZachXBT’s name have emerged across multiple blockchains, but he clarified he has no involvement and does not endorse them.
- All tokens sent to ZachXBT’s donation wallet were sold, with proceeds (~$41,000) donated to earthquake relief efforts in Venezuela.
- ZachXBT, known for exposing scams, maintains he sells all tokens sent to his public donation wallet and has repeatedly distanced himself from meme coins.
- He recently called out MemeCore and criticized questionable token valuations and insider control, continuing his stance against scam projects in crypto.
ZachXBT Turns Meme Coin Donations Into $41K for Venezuela Relief
A Unique Use of Donations
Recently, ZachXBT, a well-known blockchain investigator, made headlines for donating money to Venezuela earthquake relief efforts. He clarified that several meme coins using his name appeared across different blockchain platforms. However, he did not create or promote these tokens. Instead, ZachXBT sold all tokens sent to his donation wallet. The proceeds from these sales amounted to around $41,000. He then directed this money to charities that help Venezuelans affected by the earthquake. Specifically, he sent $25,000 in USDT to GiveDirectly and $5,000 in USDT to Direct Relief on July 6. Additionally, about $11,000 worth of Solana tokens went to Direct Relief earlier in June. This effort shows how ZachXBT used the situation to support a humanitarian cause, despite the confusion caused by copycat tokens on the blockchain.
Standing Against Meme Coin Manipulation
ZachXBT has long been known for exposing scams and bad actors in the crypto space. He actively distances himself from meme coins, stating publicly that he has never promoted or launched any of these tokens. His stance remains clear: he sells any tokens sent to his public donation wallet. This approach helps prevent his image from being tied to speculative or potentially harmful tokens. Recently, he criticized a meme coin called MemeCore for its high valuation and unfair token distribution. ZachXBT questioned why major exchanges listed these coins despite red flags. Community members have supported him, saying he plays a key role in protecting investors. Overall, his actions emphasize transparency and caution in the rapidly evolving world of meme coins and crypto investments.
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