Students for Trump co-founder denies allegations of a Rug Pull scheme with the token TIKTOK

What’s new? Conservative activist and Students for Trump co-founder Ryan Fournier denied allegations of running a fraudulent Rug Pull scheme after selling half of the TIKTOK meme token offering. Fournier launched the coin to celebrate the unlocking of the TikTok social network in the United States with a trader known in X under the nickname Asta. So, Asta created an asset and sent half of the offering to Fournier.

Material by The Block

What else is known? As a result of the rapid growth of the price, the market capitalization of the asset exceeded $90 million. However, amid the fall in the rate, Fournier, who managed to accumulate additional tokens in addition to the share of the offer provided to him, admitted that he sold his stock. Thus, he exchanged 505 million TIKTOK tokens for $700 000 in native tokens of the Solana (SOL) blockchain on January 19.

Fournier said he sold the assets following Asta and called the trader himself a fraud. Although Asta’s wallet has no record of TIKTOK token sales, Fournier claims he bought tokens from other accounts.

“And then all of a sudden it started going down at increments I’ve never seen and people were selling. I didn’t know what the guy was doing who created it, so I just… I f*cked up, I f*cked up and that’s on me. We’ll make it right, whatever I have to do, if I have to give you guys $50 000 in cash, I’ll figure out a way to do it. I feel really ashamed with what happened today,” the activist said on an X stream.

Fournier denies profiting from the sale of TIKTOK and insists that the token’s creator deceived him.

The activist later said that he intends to stay away from cryptocurrencies until he figures out who in this field can be trusted.

“I had someone reach out earlier, and they wanted to make a coin to support TikTok’s comeback. That turned out to be a chaotic mess, because I was scammed by said individual. I truly do apologize to everybody that was affected and putting money into that,” he concluded.

Источник: X.com

In turn, Asta states that all of Fournier’s claims are false, as the latter sold the coins at the peak of value, which caused the capitalization to fall to $1 million. The trader emphasized that anyone can check this through the blockchain explorer Solscan, where there is also data on the movement of funds in Fournier’s wallet.

Источник: X.com

Asta stressed that it sold most of its stock at $1 million capitalization to go to zero and cover the costs associated with sending Fournier coins.