Sports better Taylor Mathis faces crypto rug pull allegations

Taylor Mathis, a well-known sports betting influencer and DraftKings ambassador, is facing allegations of manipulating the crypto market.

The sports betting influencer has been accused of inflating his own coin before pulling the rug. The accusations center around the $TAYLOR token, a digital asset tied to Mathis; this token experienced a price increase followed by a sharp decline; in other words, there was a huge decline. Mathis agreed to promote $TAYLOR for 2% of the total supply, corresponding to 20 million tokens.

Another day, another famous crypto scam

Just 3 days after saying he would never withdraw his own money, he does exactly that for 27,000

glad to see you @DKSsportsbook sponsors only the best of the best pic.twitter.com/7MBJmdJZBH

— Plus EV Penguin 🐧/ seth (@PlusEVPenguin) 24 October 2024

Mathis allegedly promoted the token to his followers by inflating its value before selling his shares just before the crash. Since its peak, the token’s price has fallen over 96%.

Mathis claimed that he did not know the true intention of the project, saying, “I didn’t want to get involved in it,” adding: “I was trying to do the right thing.”

Taylor Mathis’ response

After the accusations emerged, Mathis secured his social media accounts and deleted references to his partnership with DraftKings. He initially claimed that the rug-pulling could not have happened without his participation, as he had the largest share of the coin; but this post was later removed.

Mathis also claimed that all profits would be donated to a toy charity, according to a since-deleted post on X.