An XRP logo with a green background
World’s Highest IQ Holder Backs XRP with New Token
In Brief
- • Self-acclaimed world’s highest IQ holder YoungHoon Kim is set to launch a token to back XRP.
- • The proposed token aims to bring real utility to the XRP ledger.
- • The announcement sparked backlash with critics raising regulatory and rug pull concerns.
XRP has received a lot of support from the “XRP Army” over the years, but now the support is coming from more places. Self-acclaimed highest IQ holder YoungHoon Kim has announced the launch of a new token to support the token.
Kim with an IQ of 276 said the token will bring real utility on the XRP Ledger. The XRP-linked token named TBA will circulate value on XRPL in connection with the Solana-native LAMB token which he launched earlier, with a focus on powering DAO utility and engagement on XRPL.
Kim Receives Backlash for Token Launch
XRP has been publicly supported by Kim who proudly flaunts his IQ on his timeline, also displaying on his profile that he is XRP’s number one Key Opinion Leader (KOL). The launch of this token is the latest step he has taken to support the project and with his already huge popularity, his previous token known as LAMB is already seeing a lot of acceptance.
However, the announcement of the new XRP-linked token did not receive so much acceptance. Several of his followers have criticized the move for different reasons. While some said he wasn’t supposed to launch such a token without prior permission from the Securities and Exchange Commission (SEC), some called it a potential rug pull.
The criticism isn’t unexpected and may be coming from experience, because celebrity tokens have hardly succeeded for a long time. An example is the TRUMP memecoin launched by president Donald Trump, which has lost more than 70% of its value from the all-time high. The project also faces rug pull allegations after $30,000 worth of liquidity was withdrawn by the dev team.
Is XRP’s Price Affected?
Kim announced plans to launch his token just hours ago after launching LAMB on January 1st. Developments like this usually influence the price of the affected token, but currently it is hard to tell if it is the news that has caused XRP to rally by over 6% in the last 24 hours.
The general crypto market entered a rally today with top altcoins making some impressive gains, XRP being among the best performing. Whether the rally will last is a different question, but this was anticipated based on recent data.
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