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'Let's go Brandon' crypto coin: Despite Candace Owens push, 'rug pull' fears linger

Besides the '$LGB' crypto coin promoted by Candace Owens, there's another 'Let's Go Brandon' coin, which is being traded as $FJB

“Let's go Brandon” crypto currencies have reportedly gained a lot of popularity in recent days with political pundits and conservatives like Candace Owens and James Koutoulas promoting it widely. These new crypto coins have been named after a popular chant used by Donald Trump supporters to show their displeasure with President Joe Biden without actually saying the expletive-laced phrase, “F*** Joe Biden!”

According to Coinbase, one “Let's go Brandon” crypto coin that is being traded as $LGB coin is equal to worth $0.000001. On Wednesday, November 24, Owens shared on Twitter, “Finally into crypto and ALL IN on this Let’s Go Brandon coin. Because, #LetsGoBrandon.”

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On November 11, hedge fund manager Koutoulas, also an investor advocate attorney and @LGBcoin_io HODLer, tweeted: “Happy to announce my 2nd donation of 25k USD worth of @LGBcoin_io to Aquanauts Adaptive @SCUBAPrograms who provide dive therapy programs to veterans with disabilities. Incredible group of people near and dear to my heart. happy to pay it forward from @pointsnfigures1.”

To which @LGBcoin_io replied, "Thank you James for using us to support America’s veterans."

Reportedly, there is another “Let's Go Brandon” coin, which is trading under the currency name $FJB — believed to be an abbreviation of actual chant “F**k Joe Biden.” Coinbase has reported that the value of a single $FJB is around $0.00218.

Ryan Fournier, conservative activist and political commentator, tweeted about this coin last week: “There's now a ‘Let's Go Brandon’ ($FJB) cryptocurrency... They just donated $30k to veterans charities, which is probably more than Biden has done for vets in his entire career. This meme is helping people. KEEP IT GOING!”

Grant Tragni is reportedly the founder of $FJB. During an interview with The Post Millennial, Tragni said: “what really drove me to do it was the donation factor.” He also stated that he wanted to find “the best way to one, help out veterans that are being really mistreated and two, utilize this movement for better,” before adding, “There's this 'Let's Go Brandon' movement; there has to be a coin out there and there was nothing there.”

$FJB's Twitter account says, “The Official Let's Go Brandon Crypto Coin (Ticker $FJB). Buy your coins on Pancake Swap now! Buy here!," listing the token address code. 

However, there is no information available about who founded the $LGB crypto coin. Several people on Twitter warned Owens against this new crypto coin, though it's official Twitter page says: "Let’s Go Brandon ($LGB) is a decentralized meme coin. 𝔸𝕞𝕖𝕣𝕚𝕔𝕒𝕟'𝕤 ℂ𝕠𝕚𝕟, 𝕐𝕠𝕦𝕣 𝔽𝕣𝕖𝕖𝕕𝕠𝕞". A user said, "That's not how we buy crypto, that coin is a possible rug pull." Another one wrote, "$FJB is the real one. Just ask @RyanAFournier This one is ran by a hedgefund manager who owns 55% of the coin himself." 

In cryptocurrency circles, a “rug pull” maneuver occurs when a token’s creators abandon the project by exchanging as many virtual coins as they can for real-world cash. The most recent example of this was the 'Squid Game' crypto coin where the developers sold their tokens and made off with an estimated $3.3 million. A fan of the conservative political commentator tweeted about the possible scam, saying, "Candace, I really respect your opinion and think we agree on a lot but this memecoin is a scam. As someone who speaks so loudly about freedom you should focus your attention on #bitcoin instead :) - happy thanksgiving!" Sharing a screenshot, a user asked, "Care to comment why you’re misleading thousands by cropping a screenshot?"