Addict commemorative ’ company Socios indicted of crypto price manipulation

Socios indicted of crypto price manipulation
Socios
author Alexandre Dreyfus reportedly failed to pay staff in
crypto to maintain the price of Chiliz
By Emma Roth
Streamlined Mar 12, 2022, 605 pm EST
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Print illustration by Jakub Porzycki/ NurPhoto via Getty Images

            Alexandre Dreyfus, the CEO and author of addict
            commemorative point Socios, has been indicted of withholding
            payments in order to maintain the price of Chiliz (CHZ), the
            cryptocurrency used by the Socios community, according to a
            report from Off the Pitch. 
             Addict commemoratives are tied to
             real- life sports brigades, generators, or artists, and give
             token holders access to exclusive addict clubs where they can
             bounce on opinions within their community. In Socios’case, the
             platform centers around sports, with druggies buying Chiliz to
             buy the addict commemoratives representing colorful brigades in
             soccer, football, motorsports, and more. 
               STAFF MEMBERS, WHO
               WERE ALSO SUPPOSED TO Admit A PORTION OF THEIR Payment IN
               CHILIZ, WERE N’T SO LUCKY 
                 . As reported by Off the Pitch,
                 Dreyfus allegedly failed to pay some of his counsels an
                 agreed-upon share of Chiliz in exchange for championing the
                 cryptocurrency. An unnamed tech superintendent told Off the
                 Pitch that he only got “ some portion of what was promised,” and
                 claims Dreyfus started “ avoiding all dispatches with the
                 counsels” in September 2020. 
                   His reason for not paying out
                   counsels? An internal communication from Dreyfus viewed by Off
                   the Pitch indicates Dreyfus did n’t want the value of Chiliz to
                   tank. “ We also need to cover the investors,” Dreyfus writes in
                   the screenshotted communication. “ When you give free
                   commemoratives, people can vend at any price — it does not count
                   for them.” He also went on to note that the “ real investors”
                   who bought Chiliz could be losing plutocrat as a result of
                   counsels dealing off the currency. 
                    The tech superintendent
                    appertained Off the Pitch to three other counsels who also
                    allegedly went overdue, and got evidence from one of them. Oddly
                    enough, that one counsel reached out to Dreyfus formerly again —
                    the environment of their discussion unknown — and reported back
                    to Off the Pitch that all four counsels had eventually been paid
                    in full. It’s unclear if there are still other Chiliz counsels
                    that remain overdue. 
                     “ We lament that some counsels that have
                     worked with us in the history weren't paid in a timely manner
                     and we've remedied this with them directly and maintain good
                     connections moment,” a Chiliz prophet told Off the Pitch. “ The
                     agreements were made when the company waspre-start up and at
                     that time we weren't suitable to award CHZ directly as it was
                     n’t listed on any exchanges. To be clear, this detention is
                     inferior and not the way we want to run our business, and falls
                     short of the norms to which we hold ourselves moment.” 
                      Staff
                      members, who were also supposed to admit a portion of their
                      payment in Chiliz, were n’t so lucky. When the value of Chiliz
                      soared, one hand claims they were unfit to cash in on the$ 10
                      million allegedly owed by Dreyfus. Chiliz latterly steered in a
                      new contract to replace the bones preliminarily inked by
                      workers, performing in a lower allotment of crypto, Off the
                      Pitch reports. The hand who was owed$ 10 million apparently only
                      made off with around$ as a result of the new agreement. Another
                      staff member was reportedly fired after speaking out about the
                      issue to the press. 
                       Chiliz responded to Off the Pitch’s report
                       in a post on Medium, stating that it “ does not reflect the
                       verity of the matter.”