TLDR;
This video discusses the controversy surrounding Kabuto King, a Pokémon card collector who is accused of promoting a crypto scheme that led to significant financial losses for investors. The video highlights Kabuto King's shift in behavior after getting involved in crypto, his defense of Logan Paul, and the criticism he faces from the community. It also examines the financial aspects of the Kabuto crypto coin, including the distribution of tokens and the losses incurred by retail buyers.
- Kabuto King is accused of promoting a crypto scheme that resulted in $12 million in losses for investors.
- He defended Logan Paul, which led to criticism from the community.
- The video examines the financial aspects of the Kabuto crypto coin, including token distribution and losses incurred by retail buyers.
Intro [0:00]
The video starts by referencing Kabuto King, who was previously presented as a dedicated collector of first edition Kabuto cards. The video suggests that Kabuto King's promotion of a crypto scheme is a significant issue, despite attempts to dismiss it as irrelevant. The presenter notes that critics are often blocked and labeled as "haters" or "gatekeepers" for questioning the crypto scheme.
Kabuto King's Crypto Scheme and Losses [1:08]
Kabuto King is blocking people on X.com who criticize him. The video highlights the significant financial losses associated with Kabuto King's crypto coin, noting a drawdown from a $13.6 million all-time high market cap to approximately $880,000, resulting in about $12.78 million "evaporated". The presenter questions who lost this money and whether promoting the coin aligns with Kabuto King's charitable image. The token is down roughly 93 to 94% from its all-time high.
Defense of Logan Paul and Creator Rewards [2:49]
Kabuto King is backing Logan Paul and Ken Golden, despite their involvement in a scam on Liquid Marketplace. The presenter questions Kabuto King's motives, suggesting that the creator rewards, which amounted to $298,000, may be a factor. The presenter implies that Kabuto King's involvement in the crypto scheme may be driven by financial gain rather than genuine collecting.
Charitable Donations and Pump and Dump [3:53]
Kabuto King reached out, acting charitable, saying that he's going to match a donation if Mr. Beast gets in on it and pumps it for him. The presenter shares his opinion that the graph of the crypto coin looks like a pump and dump scheme. The presenter notes that retail buyers lost the majority of the value, with early bundle buyers and the creator being the main winners.
Token Distribution and Wallet Analysis [5:22]
The video analyzes the distribution of Kabuto coins, revealing that the original creator wallet received 90% of the total supply (900 million tokens). The remaining 10% went to a separate treasury wallet. The creator wallet sold off the majority of its allocation over the following months and now holds much less than 1%. The token hit an all-time high market cap of $13.6 million, but the current market cap is significantly lower.
Creator Rewards and Account Transfers [7:18]
The account behind the person who claims they were going to move the creator fees to Kabuto King, the creator of the coin that cost people 12 million plus dollars. The creator rewards totaled over $370,000, which was transferred to an account supposedly belonging to Kabuto King. However, this account holds no Kabuto coins but has value in another memecoin.
Liquidity Pool and Community Sentiment [10:03]
The liquidity pool currently holds only 140 to 157K. The rest of the money that ever entered the token largely flowed to sellers primarily the creators bag sales and platform/creator fees. Comments on the pump.fund page repeatedly call it slow rug bundled cabal pump and dump with users complaining of losses after buying the pumps. Some of the extracted fees routed to the community wallet later went to Coinbase for physical first edition Pokemon card purchases.
Criticism and Community Reactions [11:29]
The video discusses the criticism Kabuto King faces on Twitter, including accusations of defending Logan Paul and blocking people who criticize him. The presenter shares various community reactions, highlighting the sentiment that Kabuto King's motivations changed after getting involved in crypto.
Trolling and Affiliate Links [14:31]
The video touches on trolling within the community and contrasts affiliate links with crypto scams. The presenter promotes the channel's affiliate links as a way to support the content without financial risk.
Community Condemnation and Conclusion [17:22]
The video shares more community reactions, including accusations of fraud and promoting a shitcoin. The presenter reiterates that the videos are intended to warn people about potential scams. The video concludes by criticizing those who promoted the crypto scheme without doing enough research.
