Global sensation, David Adeleke, better known as Davido, has deleted a tweet thanking fans for their support of his newly launched cryptocurrency, $DAVIDO, after it was flagged by X for promoting a fraudulent scheme.
The deletion followed intense criticism from the crypto community and his followers, who have labeled the coin as ill-conceived and potentially fraudulent.
The flagged tweet, posted on Thursday evening, May 30, 2024, was intended to express Davido's gratitude to his fans for believing in and buying into his cryptocurrency idea. However, community notes on X identified the $DAVIDO coin as a "rug-pull" scam, leading to widespread backlash and forcing Davido to remove the post.
The controversy began when Davido launched $DAVIDO on Wednesday, May 29, 2024. The coin initially soared, reaching a market capitalization of $10 million within four hours and attracting significant attention on DEX Screener. However, the euphoria was short-lived as the coin's value crashed the following day, sparking accusations of fraud and dissatisfaction among investors.
Despite the negative response, Davido attempted to highlight some positives, claiming that a few early supporters received $100 via the Solana platform. He stated, "Those who joined the space with me and @blknoiz06 got to witness me creating my @phantom wallet and receive $100 via the @solana network in a matter of seconds!"
The situation has left many investors feeling misled and betrayed, with the controversy continuing to grow as fans and critics await further developments in Davido's cryptocurrency venture.
Those who joined the space with me and @blknoiz06 got to witness me creating my @phantom wallet and receive $100 via the @solana network in a matter of seconds!
— Davido (@davido) May 30, 2024
