SushiSwap, a decentralized exchange (DEX), recently appointed Jared Grey as its Head Chef. But shortly after his election, Grey is faced with heaps of accusations. Unfortunately, the level of allegations has been raging another storm for the DEX ecosystem and community.
The new action from SushiSwap in its executive position was to create a more stable network. However, its motives were short-lived with the outturn of events regarding its head chef. This has put the exchange in a severe controversy after its organizational problems for a year.
Grey Slammed With Multiple Allegations
A week following his election as an executive of SushiSwap, Grey received several allegations, including multiple crypto scams, copyright infringement, and even sexual assault of a horse.
The allegations against Grey started on October 11 from a DeFi and ETH enthusiast known as YannickCrypto. He alleged that the head chef was a part of several crypto scams. Crypto Twitter gathered the accusations and displayed some bizarre allegations against Grey.
YannickCrypto mentioned that Grey stole considerable funds from a project called ALQO in 2019. The head chef was accused of having introduced the Liberio wallet for ALQO. Subsequently, over 70% of the total supply was stolen using the wallet.
Additionally, Grey was accused of renaming the ALQO wallet to EONS in 2020 and moving it to an Ethereum-based chain. Lots of people think that the rebranding process was a cover-up for Grey.
Also, other allegations against Grey include charging fees for an exchange, Bitfineon but never rolling it out.
There are other deviant allegations against the head chef. But Twitter softly projected them using a flurry of memes. As a result, the news media site has been censoring some of such memes.
SushiSwap Head Chef Defends Himself
Reacting to the allegations, Grey took to Twitter to defend himself. According to his post, the head chef stated that the accusations against him are 100% untrue. He blamed Kelvin Collmer as the real scammer in a shared blog post. Also, he mentioned that the affected users in the scamming situations received compensation.
Regarding his failed project, Grey stated that his business partner stole the business funds in 2019. This happened while he was working on raising funds for the Bitfineon exchange. He said that the scammer was later fired from the project.
The native token of SushiSwap, SUSHI, has suffered drastically due to the entire fiasco of the allegations against the head chef. The token lost over 10% of its value following the news. At the press time, SUSHI is trading at $1.263. This price is far below its ATH of $23 in March 2021.
SushiSwap tanks on the chart l SUSHIUSDT on Tradingview.com
Memecoin relies on its interesting social communication properties to bring huge opportunities for transactions, infrastructure and community vitality, and plays an important role similar to a "Trojan Horse" in promoting the popularization of web3.
JinseFinanceCan Metis stand out among the many Layer 2 projects by taking advantage of other Rollups’ lack of centralized orderers and its own powerful economic model?
JinseFinanceCan Metis take advantage of the disadvantages of other Rollup centralized sorter problems and strong control economic models to stand out from many Layer 2s?
JinseFinanceI’m not sure who controls the Bitcoin ETF Trojan Horse – us or the banks? What I always hope for is for the algorithm to prevail.
JinseFinancePakistan's Minister of State for Finance and Revenue has reportedly said crypto cannot be legalized in the nation due to conditions set by the global money laundering watchdog for staying off of its list of countries under increased monitoring.
Coindesk
Coinlive Arbitrum and Optimism have a combined market share of 84%.
BeincryptoShaw joins Animoca after more than three years as Gemini's Head of Finance.
CoindeskThe Sushi 2.0 reorganization proposal was published on Sushi's community forum.
FtftxCrypto asset management firm Grayscale added three new crypto assets to its funds and has kicked SushiSwap and Synthetix from its DeFi Fund, following its first quarterly rebalance.
Cointelegraph