Team Khamzat Chimaev attempts to explain ‘major downfall’ of SMASH token

Team Khamzat Chimaev are attempting to explain ‘major downfall’ of SMASH token.

It recently came to light that UFC middleweight contender Khamzat Chimaev is being accused of running a pump-and-dump scheme for his SMASH crypto coin. The contention is that the Swede ‘stole up to $1 million dollars from investors.

In a video posted to Chimaev’s ‘X‘ account, the following statement was posted:

Hi guys!

I would like you to pay attention to this video and get answers to all your questions in your head.

Take a little of your time to clear up all misunderstandings! pic.twitter.com/5G08ZpiO5t

— Khamzat Chimaev (@KChimaev) July 9, 2024

“Regarding the supply, yes, we sniped 80 percent of the supply and we still own almost 80 percent of the supply. We did not sell, we were not the cause of the major downfall that happened in the token. Everything is public, you can track all wallets. There is no scam that has been happening. It’s simply people that bought early that sold very late and took profits, and not us. Neither is it Khamzat’s team nor us who caused that.”

Oddly enough, it was just 2 days prior that Chimaev’s manager, Shammas addressed the allegations:

“I was approached by a group claiming to be fans of my client Khamzat Chimaev. They wanted to record a short video promoting their launch. So I agreed to that, nothing more nothing less. Maybe I was misled. Khamzat wasn’t involved and know just as little as you do. So the news is really unpleasant and I’m seeking an explanation from those responsible. My apologies to Khamzat and all others of you affected by this, if I could have done anything differently. Thank you for your understanding, I’ll keep you updated.”

Khamzat Chimaev has yet to respond directly.

The undefeated ‘Borz’ (13-0 MMA) last fought Kamaru Usman (20-4 MMA) in October of 2023 at UFC 294. The result was a majority decision victory for Chimaev.

Chimaev was to have fought at UFC Saudi Arabia last month but had to withdraw due to illness.

To date, there has been no timeline as to when the 30-year-old will return to action in the cage.

What do you think of the allegations against Khamzat Chimaev? Where there’s smoke, there’s fire?

Share your thoughts in the comment section PENN Nation!