Blockchain has impacted every industry in the world, including esports, online gambling, and casinos. It is no surprise that when the crypto market crash happened, these industries felt the impact. Many DEXes faced liquidity issues, and consequently shut down user withdrawals, ruining their reputations. Bitcoin Latinum and CoinFlex have both had negative publicity for such practices. An unintentional chain reaction ignited a Twitter feud between two of poker’s biggest stars endorsing these companies, Phil Hellmuth and Doug Polk. These affiliations have resulted in some heat being directed at the poker pros from their followers.
Hellmuth & Polk Alienate Crypto Community With Their Support of CoinFlex & Bitcoin Latinum
Despite allegations of securities fraud and misappropriation of funds aimed at one of Bitcoin Latinum’s executives, Polk has repeatedly criticized the “Poker Brat” for wearing a Bitcoin Latinum hat in public. Although Hellmuth endorses the coin, he is not giving financial advice. Hellmuth has taken a lot of heat for wearing the Bitcoin Latinum hat even though he doesn’t directly provide investment advice.
Since CoinFlex suspended withdrawals last month after it was discovered that a certain individual’s account, allegedly crypto investor Roger Ver, had gone into negative equity, Polk is receiving similar criticism for promoting the platform so heavily on his podcast. The company is trying to recover $84 million in delinquent debt so that investors can withdraw from its trading platform, but its reputation has been destroyed. In a lengthy YouTube video, Polk announced he was stepping down as an ambassador following the CoinFlex scandal. In the past, Upswing Poker’s founder was heavily criticized for promoting CoinFlex.
Cryptos With Ethereum & Bitcoin in Name Are Scams as Per Polk
On June 9, Polk tweeted defending his affiliation with CoinFlex and differing his actions from Hellmuth’s, who continued to wear the Bitcoin Latinum hat despite serious allegations against it. Later, Vertucci deleted his tweet and apologized for being so aggressive in his response to Hellmuth and Polk. The apology came after Polk fired back at Vertucci. “Nick, for starters you are a complete tool. You hit me up over and over again for me to give you free s**t (newsflash, I don’t know you). Anyway huge difference between the people I’ve gone after for unethical decisions and my situation. Not surprised you cant see the difference,” Polk responded.
Polk offered a heads-up challenge to Vertucci, as is common when a poker player feud turns nasty, but the match seems unlikely. Hellmuth attacked Vertucci after Vertucci apologized. Hellmuth’s tweet wasn’t ignored by Polk. Whenever a coin with “Bitcoin” or “Ethereum” in its name pops up, he told the 16-time bracelet winner, “it’s a scam. The entire community knows it.”
“There is only one Bitcoin,” Polk wrote.
“The difference here is when I realize a company is doing something wrong, I have the courage to quit. That makes one of us,” Polk told Hellmuth and his followers. Since the brief Twitter war, Hellmuth and Polk have appeared to move on. In a tweet Tuesday morning, Polk mentioned he’d patched things up with Vertucci and praised Hustler Casino Live.
Author
Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.
