In the fast-paced world of cryptocurrency, influencers like Gainzy have risen to prominence, but not without a trail of controversies. This thread by @StarPlatinumSOL on X sheds light on Gainzy's darker side, from his early days in crypto to his current role as a top streamer on PumpFun. Let's break it down step by step, explaining the key events and terms along the way.

Early Career and the ICO Boom

Before diving headfirst into crypto, Gainzy worked as a process analyst, chess teacher, and software engineer. In 2017, right at the height of the Initial Coin Offering (ICO) craze—where projects raised funds by selling new tokens—he quit his jobs to go full-time in crypto.

He joined Obsidian as a developer, a project that later became notorious as one of the biggest ICO rugs of that cycle. A "rug pull" happens when project creators hype up a token, collect investments, and then abandon it, often taking the funds with them. Years later, even Cardano got indirectly linked to the drama. This marked Gainzy's first brush with controversy.

Trading Bots and FTX Promotions

After Obsidian, Gainzy shifted to trading. He built the Gainzy Bot, a tool that generated steady income through referral links. He sold it in 2018, but bots remained part of his playbook.

Gainzy became one of the first influencers to heavily promote FTX, the now-defunct crypto exchange founded by Sam Bankman-Fried. At his peak, he earned $50,000 monthly from users trading under his referral code—even big names like Cobie used it. But when FTX collapsed in 2022 amid fraud allegations, Gainzy lost a chunk of his holdings and quickly turned critic.

Rollbit and Stake Controversies

Next, Gainzy joined Rollbit as a sponsored streamer. Rollbit is a crypto gambling platform with its own token, $RLB. While publicly shilling (promoting) $RLB, on-chain data showed him secretly selling millions in tokens. He allegedly mixed funds through Rollbit itself to obscure transactions.

Crypto investigator ZachXBT and others exposed this, leading Gainzy to leave Rollbit for Stake, another gambling site. More undisclosed promotions came to light, though Gainzy denied most claims.

PumpFun Era and Recent Drama

Today, Gainzy is a leading streamer on PumpFun, a platform on Solana for launching meme coins—fun, viral tokens often based on internet memes with little intrinsic value but high speculation.

He's gone viral for a meltdown during an Ethereum price crash and even launched his own stream memecoin, $GNZYSTRM. But controversy follows: Recently, he crashed his token live by selling $169,000 worth. Minutes later, a fresh wallet (created just 24 hours prior) bought the dip and profited $400,000. This wallet traded only Gainzy's token, raising suspicions of insider activity or manipulation.

For context, "buying the dip" means purchasing an asset after its price drops, betting on a rebound. In meme coin world, such moves can spark rug pull fears or pump-and-dump schemes.

Gainzy's story highlights the risks in crypto: from influencer promotions to on-chain transparency issues. As meme tokens boom on platforms like Solana, staying informed is key for traders. What do you think—is this just bad luck or something more? Check the original thread for more details and join the discussion.