Alex Saunders faces criticism for delaying loans, bitcoin payments, and investment funds, despite him being extremely popular in the crypto space as an influencer powering Nuggets News so let’s read more in today’s Bitcoin news.
Most of his associates started accusing him of owning them a huge sum of BTC and in addition, they said that Alex Saunders redirected the new project’s funds into a crypto exchange. The crypto educator has been prominent and respected on social media and YouTube with a total of 140,000 subscribers. He also has a paid membership service which he offers to interest BTC investors.
Nugget News CEO misused people’s money according to crypto Twitter and as a result, many individuals claimed that he owed them money. One such person is BitBoy who is a fellow YouTuber who claims that the CEO owes him some BTC. The investors prompted the Australian Financial Review and Broadcasting corporation to investigate the matter. The AFR learned that the CEO collected up to $7 million more from the 100 investors that want to buy his upcoming stablecoin projected called Decentral bank. The investigators learned that most people got interested after he promoted the project on Nugget NEws three months ago and after that, many people started investing in the project and each person invested $50k to back the project.
After the investments were made, Saunders moved the money to FTX but FTX founder told AFR that they will investigate the matter even further. For now, Saunders is yet to respond to the allegations. Before this incident, Saunders appeared on a live stream with Richard Hart who is the HEX founder and the event was held a few days before with lots of heated arguments between the two. Saunders mentioned that HEX order books are not adequate to support the selling pressure, citing data from Santiment.
After removing Saunders from the live stream, Heart went on Twitter and shared his private discussion asserting that Saunders begged him for the loan of 50 BTC and tried to offer him a “ pre-allocation” in the decentral bank. According to ABC however, Saunders spoke with an overseas hedge fund management company to borrow BTC on two occasions but the fund claimed that he has yet to repay the loan they sent him in January.
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