Taylor Mathis And $TAYLOR Explained: The Story So Far

Until a few days ago, Taylor Mathis was not a particularly famous name in crypto. Anyone who’s not into sports betting might likely have never heard of Mathis. But that all changed last week, when a new Solana-based token called $TAYLOR surfaced on Solana Explorer, and soon, Taylor Mathis became a very popular figure in the crypto community. 

Taylor Mathis is a popular sports betting influencer, who is currently facing community outrage over an alleged crypto scam or rug pull. Users are alleging that Mathis endorsed a token under her name and artificially inflated its value – only to liquidate at peak price and plummet its value. 

Who is Taylor Mathis? 

Taylor Mathis is a social media influencer with over 200,000 followers on X (formerly Twitter) and 120,000 followers on TikTok. Her content mostly revolves around analyzing sports bets and placing big bets on different sporting events. 

Mathis has a very successful betting portfolio, and her influence within the community-led DraftKings to name her as an ambassador. She previously worked as a sports reporter and anchor for NTV.

How did Taylor Mathis scam the crypto community? 

It all started when an anonymous individual created a cryptocurrency under Mathis’s original name and called it the $TAYLOR token. The developer reached out to her, asking Mathis to promote the crypto in return for 20 million $TAYLOR tokens – which is 2% of its entire supply. 

According to Mathis, she didn’t know the developer’s identity but found the whole project to be intriguing. So, from 16 October, she began to promote the $TAYLOR token to hers followers on all social media channels. 

However, there’s more to this story. Here’s everything we know so far on the Taylor Mathis scam.

Given her large fan base within the sports betting community, the $TAYLOR token started getting a lot of attention, and its price rapidly spiked. Within three days, the token’s market cap reached $6million. This is when things started to take a wrong turn for Taylor Mathis. 

Reports started to appear that Mathis sold all of her $TAYLOR holdings for roughly $16,000 worth of SOL. This led to rapid liquidations and $TAYLOR’s market cap slumped to $150,000 – which suggested a classic rug pull pattern. 

A series of wrong decisions

Following community accusations of a rug pull, Mathis posted a tweet claiming that it would be impossible to abandon the project as she own the highest percentage of the tokens. The post has since been deleted.

Soon after, as outrage from her followers continued, Taylor Mathis brought back $9,000 worth of $TAYLOR tokens to help revive the token’s value. For a short time, the token spiked again, only to plummet nearly to the zero mark. According to data from Solana Explorer, the token currently has a market cap of below $54,000. This suggests that the developers have indeed orchestrated a rug pull. 

To sum up, scammers used Taylor Mathis to inflate the token’s value and orchestrate a rug pull. Mathis has since then locked her social media account and posted a four-minute-long apology video on X (formerly Twitter).

In this video, Mathis emotionally mentions that she has no knowledge of crypto and didn’t anticipate how the incident could pan out. After apologizing to the affected users, Mathis also shows a video of her donating all the earnings from this token (33 SOL) to a charity.

The scandal of Taylor Mathis is yet another example of why the crypto community should be extremely cautious about investing in new tokens. Celebrities have a history of promoting speculative tokens that turn out to be dubious scams. 

So, users should exercise extreme caution, do their own due diligence, and be skeptical when investing in any celebrity-endorsed cryptocurrency.