A business associate of Jake Paul, Geoffrey Woo, has made headlines claiming that his new AI-themed memecoin carries a “0% rug pull risk.” Woo”s assertion stems from his confidence in his financial situation, stating he is “already rich.”
This bold declaration raises eyebrows, especially in light of the Paul brothers” previous ventures, including projects like CryptoZoo, Dink Doink, and several others that have reportedly lost over 99% of their peak value. Forensic researcher ZachXBT has pointed out the inherent contradictions in Woo”s claim, particularly against the backdrop of the brothers” controversial track record in the cryptocurrency space.
ZachXBT has been vocal about the potential risks associated with Woo”s statements, humorously suggesting that should Woo decide to sell his tokens, he might concoct an excuse such as “the bot placed the sells, not the dev.” This skepticism is compounded by observations of three sales linked to the memecoin that appear to violate Woo”s commitment to disclose insider sales ahead of time.
Woo has a history of collaboration with Jake Paul, having co-founded a venture capital firm with him in 2021, alongside working on a men”s personal care brand. His background as a Stanford-educated professional money manager adds layers to the scrutiny surrounding his promises regarding the new token.
With numerous media outlets labeling the various projects associated with the Paul brothers as scams or rug pulls, the cryptocurrency community remains hesitant about Woo”s latest venture. As the situation develops, it will be crucial for investors to proceed with caution and conduct thorough research before engaging with new projects in the crypto space.
For ongoing updates and insights, readers can follow us on X, Bluesky, and Google News, or subscribe to our YouTube channel for deeper analysis.
