- Altcoin Daily claims Algorand was working in collaboration with the Clinton Foundation to fight climate change.
- The crypto community reacted negatively to the news, with many claiming they would sell their ALGO.
- However, the token gains support from investors who believe the news is old and irrelevant.
Algorand, the foundation behind the ALGO, has come under scrutiny after Altcoin Daily posted a video today claiming that Algorand was working in collaboration with the Clinton Foundation to fight climate change. To validate the claim, the crypto news channel shared a screenshot from Algo Bharat’s Twitter account.
“Great day for us in India,” posted the Algo India team back in February. “Kicked off the week with the Clinton Foundation and launch of the Global Climate Resilience Fund in Ahmedabad. Blockchain to help women affected by climate change, impact Algorand, and leadership by StaciW_DC. Trifecta!” The press release tagged with this post is no longer available.
The Clinton Foundation has had its fair share of controversies over the years. The public charity, set up by former US President Bill Clinton, is an operating foundation that provides money to non-profit organizations. Because of its lack of transparency, several of Clinton’s political opponents have claimed that the fund was a way for foreign governments to deposit money in and buy influence.
As expected, the crypto community did not take kindly to Altcoin’s Daily reveal. Several investors pledged to never buy ALGO again, with several more stating that they would sell theirs.
Some investors were more concerned about the “climate change” aspect of Algorand’s collaboration. Crypto enthusiasts have always had a contentious relationship with climate activists, with the latter labeling crypto an energy drain. There are also several people in the community that do not believe climate change is real.
However, a handful of investors rallied behind Algorand, calling the news FUD. “No one watch the clip, this was in 7 Feb 2023, it’s probably already priced in. You guys are acting like this is a new news,” said one ALGO fan. “You can’t of been following very closely if you didn’t realise this news is like 6 months old. Jeez, why everyone so determined to fud Algorand. Huge buy signal. Keep loading up that wagon,” said another.
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