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Holders of SushiSwap token $SUSHI are galloping to their exchanges to sell their holdings after equestrian-related rumours surfaced about the platform’s newly appointed “head chef.”
Markets have always been reactionary to news and rumours, but crypto markets are particularly sensitive to nonsense. Rumour has it that Jared Grey, who was appointed to the position by SushiDAO had sexually stimulated a horse with his fingers.
Grey has been left long-faced amid the rumours, as well as allegations that he stole funds from the crypto community in 2019 through a project called ALQO.
The equine enthusiast allegedly introduced ALQO to a wallet called Liberio, which was used to steal 70% of its total supply. He then supposedly renamed ALQO to EONS in 2020 and shifted to an Ethereum-based chain.
Additionally, Grey is accused of charging listing fees for an exchange he was developing called Bitfineon despite never launching it.
$SUSHI has cratered over 10.5% amid the allegations to as low as US$1.24 – lower than when Grey was appointed. The coin is now down 95% since its all-time-high of US$23.38 in March 2021.
Grey has refuted the allegations saying “the accusations towards me are 100% untrue.”
“Today has been interesting. Let me be clear: the accusations towards me are 100% untrue. FYI, in 2019, my business partner stole funds from our community while I was busy raising funds to launch the Bitfineon exchange,” he tweeted.
“The investors & I found out, fired him, and refunded the affected users,” Grey continued, adding a Medium post about the real scammer Kevin Collmer.
“I have always operated with integrity in this space; you can reach out to anyone I’ve worked with directly over the years. I’ve had business failures, which CT likes to scrutinize, and I’m OK with that because it comes with the territory,” Grey added.
In true crypto Twitter fashion, Grey’s equestrian fixation has led to a slew of horse-themed memes, even inspiring a new meme token called Sushi Horse (HORSHE), which has spiked over 6,000% in the past few hours.