Entering the crypto space
Taylor Mathis has recently secured a srong following for her “Walking Bets” social media posts where she provides betting picks for upcoming sports fixtures. However, the DraftKings ambassador is now facing accusations of manipulating crypto markets, promoting a new token named after her and selling it before the price freefalled.
agreed to promote it in return for 20 million tokens
Fans of Mathis made the $TAYLOR token using her likeness and contacted the content creator about the project to get her support. She agreed to promote it in return for 20 million tokens, equivalent to 2% of its total supply.
Initial success
Its price began taking off in the days after she introduced $TAYLOR to her hundreds of thousands of social media followers, reaching a $6m market cap on Saturday. This was the height of the price before it started plummeting, dropping below $1.5m in the subsequent days.
Then it got interesting – reports suggest the Scottsdale-based Mathis dumped her entire holdings in the coin for 95 SOL ($16,350). This prompted another price plunge, with the market cap spiraling below $150,000.
Unclear future
There was yet another twist in the tale. Despite Taylor posting on X that crypto wasn’t for her and that she would donate any money gained to charity, she then proceeded to purchase another 34 million tokens for $9,000.
She highlighted her fresh position on Wednesday night, which led to people questioning if this activity is potentially a form of market manipulation through a typical “rug pull” scheme. A popular authority in the space posted some screenshots of his private conversations with Mathis, uncovering some behind-the-scenes details:
Taylor Mathis’ X profile is now locked, and her bio no longer mentions her being a DraftKings Ambassador, suggesting she is no longer working with the sportsbook operator. If the accusations of market manipulation prove true, whether intentionally or not, Mathis could face an SEC investigation.
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