Taylor Mathis could be in some hot water following some serious accusations.
The sports betting influencer, who has gained popularity for her “walking bets” videos and is sponsored by DraftKings, has been accused of manipulating the $TAYLOR cryptocurrency created in her name.
According to Andrew O’Malley of VegasSlotsOnline, Mathis’ fans made the currency, which she agreed to promote in exchange for two percent of its supply, which amounted to 20 million tokens.
She did so from her X account last week, which caused it to hit a $6 million market cap and her stake to balloon to $120,000.
Mathis has since been accused of running a “pump and dump,” meaning she promoted it before selling her stake.
“I know what pump and dump is and that literally can’t happen,” she said on Sunday in response to the accusations.
Such a move is considered securities fraud, which could get her in some trouble.
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DraftKings Under Scrutiny Following Latest Development In The Taylor Mathis Story
According to a Coinstats chart, the token’s value plummeted after Saturday, dropping to just above $200,000, with Mathis having sold her stake for another form of crypto called SOL. The 95 tokens she purchased were valued at just over $16,000.
She later sent messages claiming she didn’t want to be involved with $TAYLOR anymore, but her account is said to have purchased 34 million $TAYLOR at a low price of $9,000, which left her with close to 150 percent of her original stake and $7,000 in profit before she claimed to be back on board with the coin.
This has led to further accusations of manipulating the market, with folks mentioning DraftKings in posts. Taylor Mathis has curiously locked her X account and removed all DraftKings references.
Awful Announcing claims to have contacted the bookmaker but hadn’t heard back from them at the time of writing.
