Zeus Capital Confirms It Never Produced Research About Chainlink (LINK). Who Was Behind It?

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Mon, 07/20/2020 - 18:15
Alex Dovbnya
U.K.-based asset manager Zeus Capital Limited distances itself from the Chainlink (LINK) imbroglio
Zeus Capital Confirms It Never Produced Research About Chainlink (LINK). Who Was Behind It?
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U.K.-based Zeus Capital Limited has published a statement, denying its involvement in creating the controversial report about Chainlink (LINK) being a scam.

The FCA-regulated asset management firm distances itself from Zeus Capital LLP, another shady firm that was behind the research:   

 “For the avoidance of doubt we would like to state that Zeus Capital Limited has not produced or published research on this subject and has no relationship or affiliation with Zeus Capital LLP whatsoever.”   

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A 59-page hit piece  

Last week, Zeus Capital LLP caused a stir by releasing and actively promoting the 59-page hit piece, which dissects Chainlink’s presumed fraud while predicting that LINK could collapse 99 percent.

Hot on the heels of LINK’s 40 percent price rally that took it to new all-time highs, these damning revelations became a hot topic on top cryptocurrency subreddits and Twitter.  

Prominent trader and Bitcoin maximalist Tone Vays praised the quality of the report, claiming that it must have taken months to conduct this kind of thorough research.

Four days and thousands of angry tweets left by LINK holders later, Zeus Capital LLP continues to stand its ground while confirming that it indeed has nothing to do with the firm of the same name across the pond:

“Such a pathetic effort by the self-proclaimed '$LINK marines' to change the narrative Address the points in the report! Any word in the dictionary + Capital is used by dozens of companies across the world.”       

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Nexo in hot water 

On July 19, CryptoComes reported about eagle-eyed “LINK Marines” noticing Nexo’s trail in the whole imbroglio.

The Chainlink community accused the popular crypto lending platform of attempting to manipulate the LINK market with the dubious report by impersonating the legit asset management firm. This came right after Nexo allegedly shorted 350,000 LINK tokens borrowed with DeFi protocol Aave.

All these allegations were vehemently denied by Nexo co-founder Antoni Trenchev who insisted that his team was in touch with the cryptocurrency’s co-founder Sergey Nazarov.

Chainlink’s head of marketing Rory Piant later explained that Nexo became a victim of “a misinformation campaign.” 

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.