Boxer Manny Pacquiao To Promote PAC Token At Blockchain Fair Asia 2018

Already renowned as a world-famous boxer and a Senator in his home country, Manny Pacquiao is now set to promote his own cryptocurrency at the upcoming Blockchain Fair Asia.

The official website for the event lists Senator Manny Pacquiao as a “special guest appearance to promote his PAC token powered by GCOX.”

The event will be held in Manila from October 11-12. The theme is “Looking Beyond Blockchain Hype.”

Creating A Legacy

The Global Crypto Offering Exchange (GCOX) heralds themselves as the “world's first platform that tokenizes popularity.” The company says it helps “celebrities create their personal crypto tokens and manage their ITS listing on the platform.”

GCOX signed Manny Pacquiao back in March to serve as the company’s first celebrity to release their Celebrity Token. Pacquiao’s is known as the PAC coin.

According to GCOX, these types of Celebrity Tokens can be used to buy exclusive merchandise, tickets, and other services, and can also be used to interact with stars through meet-and-greets and live streaming events.

Aside from Pacquiao, other private investors into GCOX include former England footballer Michael Owen, JIT Holdings Founder Tommie Goh, and Heliconia Capital Management Chairman Lim How Teck.

Celebrities & Crypto: The Good & Bad

A few celebrities have waded into the cryptocurrency world so far. Some have had more success than others.

In June, Senegalese rapper and producer Akon said he was going to launch a cryptocurrency called Akoin,  claiming that the coin would be the official medium of exchange of his city called Akon Crypto City.

The musician also said he was launching a cryptocurrency because he hopes to help foster development and growth in Africa.

Another well-known boxer, Floyd Mayweather, promoted a cryptocurrency startup called Central Tech with DJ Khaled.

In April, the company was served with fraud charges by the SEC relating to its ICO, while the SEC has issued several warnings to celebrities against endorsing ICOs in exchange for payment.

Bitcoin Whale Reportedly Risks 800 BTC for $0.01 Payout in Dogecoin

A bitcoin whale has supposedly risked a total of 800 BTC, worth around $5.8 million, to help the cryptocurrency remain at the $7,200 mark in a bid to win a bet he made on social media.

A Twitter exchange between Dogecoin supporter Samu and bitcoin whale Joe007 shows that both agreed to bet on bitcoin’s future price, with Samu agreeing to pay 5 million DOGE (around $11,000) to the whale if BTC traded above $7,100, and the whale agreeing to pay Samu the same amount if it was below $7,100 at 13:00 UTC on December 12.

The BTC whale ended up winning the bet as the price of the flagship cryptocurrency didn’t drop below the agreed-upon mark. Some of those watching the thread, however, noted that something seemed to be going on before the bet’s deadline expired.

The bet was made according to the price of the Bitfinex cryptocurrency exchange, and a trader soon alleged on social media the BTC whale could’ve placed an 800 bitcoin order to “defend” the $7,200 so the cryptocurrency’s price wouldn’t dip.

While it isn’t possible to tell whether Joe007 was the one behind the 800 BTC order, the whale seemed to warn Samu before the bet was made that he was extremely confident he was going to win, tweeting out “you really don’t want to make this bet, believe me…”

After the deadline the posts suggesting market manipulation came out so Samu said he “got revenge” on the bitcoin whale cheating, by offering to pay him only 6 DOGE, currently worth about $0.013.

The Dogecoin addresses Joe007 showed as the destination for the funds currently has little over 10,000 DOGE in it, worth close to $22. Some argued Samu should have paid the funds as no terms were defined in the bet, while others agreed with him.

Featured image via Unsplash.