Pavel Durov received a massive donation of Notcoins based on TON blockchain during Binance Launchpool and OKX Jumpstart’s Notcoin launch.
Pavel Durov received a massive donation of 1.03 Billion NOT’s based on TON blockchain technology during Binance Launchpool and OKX Jumpstart’s Notcoin’s listing on the crypto exchange.
The Telegram messaging app founder received these coins with the market price nearly of $6.8 million. This has led to a huge controversy in the crypto world due to the chance of devaluation of the received coins.
Durov received these coins during the coins listing on 16 May, 2024. This was a goodwill gesture for telegram’s contribution in the crypto world. This gesture, however, created doubts, and loss of trust about NOT distribution in the market.
Notcoin Gift Raises Investors Eyebrows
The NOT team, during the launch announced that all donors would receive double the amount they had invested.
Many users, however, expressed dissatisfaction with launch team’s communication process. They questioned this non-discloser of prior investments being doubled beforehand.
Investors also suspect this donation is an undisclosed payment PR stunt. This PR has raised investor’s eyebrows due to its timing and donation size.
The coin has also dropped 50% in value since its launch. The total market cap of NOT currently is at $700 million, staying at 109th position.
Durov Say on Donation?
Durov with a $15.5 billion fortune, said he will sell these to buy more servers for Telegram messaging App.
“Half a million NOT users gifted me $6.8 million worth of NOT! Thank you,”. Durov further wrote on Telegram. “I will hold these coins until they turn to $680 million, at which point I will use them to buy more servers for Telegram.”
Crypto giveaways and airdrops are common events to distribute launched coin tokens to famous personalities to grab market attention. New investors should do their own research before investing in any cryptocurrency.
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