Binance Under Fire for Endorsing Hasbulla’s BULLA Token Amid Scam Allegations

The cryptocurrency community is raising alarms over Hasbulla’s BULLA token, with investigators labeling it a potential scam reminiscent of the BARSIK rug pull. Despite raising over $20 million in its presale, concerns about fund mismanagement have surfaced. Binance faces criticism for its association with Hasbulla during a recent event, adding fuel to the controversy. This situation highlights the risks in the memecoin frenzy and the need for due diligence in crypto endorsements.

Hasbulla’s BULLA Token Faces Scam Allegations as Crypto Community Sounds Alarm

The memecoin frenzy surrounding Russian influencer Hasbulla’s BULLA token has taken a dark turn, with prominent crypto investigators labeling it a potential scam. Over $20 million was raised in its presale, but critics point to a troubling pattern—echoes of the BARSIK rug pull earlier this year, where funds vanished without explanation.

Binance faces backlash for endorsing Hasbulla during a recent event, despite his controversial track record. Crypto sleuth ZachXBT and analyst Wise Advice have urged investors to exercise extreme caution, citing opaque operations and broken trust. The incident underscores the volatile risks of influencer-driven tokens in an unregulated market.

Ether Outperforms DeFi Market in May Amid Institutional Inflows

Ether (ETH) surged 45% over the past month, eclipsing Bitcoin’s 13% gain and the broader DeFi market’s 21% rise. The rally follows record inflows into spot ETH ETFs, signaling renewed institutional confidence.

After a rocky start to 2024—plummeting from $3,340 to $1,472 by April—ETH has broken an 18-month downtrend against Solana. Restaking protocols like Lido and EigenLayer saw TVL spikes of 41-48%, while Binance’s staked ETH product jumped 63%.

Solana-based DeFi protocols lagged behind, with Jupiter and Kamino posting single-digit TVL growth. Ether’s resurgence underscores its reclaiming of dominance in decentralized finance.