George Floyd’s Death Helps Gain ProfitJudy Rubio
The situation seems to be getting serious and people do not want to give up on their battle. Most of what people do is expressing their aggression that they feel due to the lack of law and order across the country. Their dissatisfaction occurred because of the inactivity of the authorities that usually ignore issues that arise between the black population of the nation and the law enforcement organizations. Riots keep on occurring in most states and the police report new incidents related to this.
However, the current events have become one of the reasons why crimes in other industries are committed. The mass media sources report that the crypto community is suffering from numerous individuals who are trying to use the turmoil in the USA. What they do is to make others believe that the so-called George Floyd token is what the society needs. This is an obvious cash grab and those who are doing it feed on sentiment only.
The government is at a loss – most officials do not know how to put riots down and how the police could calm the crowds down. In some states, the situation is getting out of control despite the measures the authorities take. At the same time, some dishonest individuals from the crypto world are making money on the dead person, stealing others’ money, and sending misleading messages.
Promotion of a New Token
Projects that tend to spring during harsh moments are frequent. This time some individuals dealing with cryptocurrencies decided to make quick money and take full advantage of the grief and sorrow of the country. The promotion of a new token following the black man’s death is considered by many a terrible idea. The entire crypto community supports activists fighting for black rights and keeps sending donations.
Unfortunately, there are those whose selfish ideas trigger them to create projects to gain profit. The token is known as FLYD and dedicated to George Floyd. The developers and website owners announce that the dead man’s memory will never die and the best way to do so is by making a token. The creators assert that part of the project will be used to fund empowerment and justice.
Some supporters believe that the token will help activists along with protesters. Thanks to it, they will be able to accept several payment streams in case they require support and assistance in the future.
The problem is that the creators do not explain why they think that someone might need any payment stream. It seems that the token is still illiquid and has just been launched. These are just some of the red flags we have noticed so far.
The Influence of Cryptocurrencies
We cannot deny the impact that crypto makes. There are plenty of posts where people are sharing a photo of a protester holding a sign claiming that BTC will save the nation. Most of the participants and witnesses regard this behavior as something inappropriate. The crypto community agrees with them and says that the crypto market is not a protect arena. Its main mission is decentralization and the creation of blockchains rather than provoking ways of advertisement.
The founders are ready for a series of airdrops – this would help them attract more customers. They do want more people to find out about Uniswap and the new crypto token. Another proposal they have is to devote some of their money to George’s family and the movement fighting for black rights.
There more questions that need answers. The project does not explain how the founders are going to choose the recipients representing the organization arranging the movement.
Interview with Gen2 on The Capital07 Oct, 2020 Colin Baseman
TOP 10 crypto world news for October 2, 202002 Oct, 2020 Annabella Cornelly
TOP 9 crypto world news for October 1, 202001 Oct, 2020 David Kemp
TOP 10 crypto world news for September 30, 202030 Sep, 2020 Judy Rubio
TOP 9 crypto world news for September 29, 202029 Sep, 2020 Endy Callahan
TOP 10 crypto world news for September 28, 202028 Sep, 2020 Colin Baseman