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The Miss Universe Coin created a storm of controversy on the Philippine Blockchain Week (PBW) when it got here to mild that the coin, touted through the occasion and unveiled at a previous press convention, had no affiliation with Miss Universe, the model and pageant owned by Thailand-based JKN Holdings.

What appeared like a promising enterprise took an sudden flip, leaving questions and authorized actions in its wake.

Earlier this month, PBW buzzed with anticipation as Donald Lim, the founding father of the group overseeing the occasion, proudly declared the launch of the Miss Universe Coin. 

Miss Universe Coin: A Deceptive Unveiling?

However, the passion quickly gave strategy to bewilderment when the official Miss Universe Organization, backed by JKN Global Group, distanced itself from the coin venture, labeling it fraudulent.

Over the weekend, the Miss Universe Organization made its stance clear on its official Facebook page, unequivocally stating that it had no affiliation with the coin venture unveiled at PBW. They additional vowed to discover “all legal options with regards to this infringement.” The once-promising Miss Universe Coin was now caught in a whirlwind of controversy.

PBW’s Response And Lingering Questions

In the wake of this revelation, Philippine Blockchain Week addressed the rising unease amongst its attendees. Initially, a press release was posted on Telegram however subsequently deleted, solely to be reissued with notable modifications on each Facebook and Telegram. 

Bitcoin registers a market cap of $509 billion right this moment. Chart: TradingView.com

The updated message expressed the group’s dedication to addressing the scenario critically. It acknowledged that PBW was involved with all related events concerned and pledged to maintain the group up to date.

Blockchain Reputation Tarnished

Despite this, the lingering questions stay. How did the Miss Universe Coin handle to cross the due diligence course of set by occasion organizers? And what measures will likely be taken to make sure such incidents don’t tarnish future occasions throughout the blockchain and cryptocurrency group?

Many are left questioning how the Miss Universe Coin managed to cross by means of PBW’s due diligence course of, and what steps the group plans to take to stop comparable incidents from occurring in future occasions.

The Miss Universe Coin had been positioned as a big participant within the cryptocurrency area, with Vincent Song, Global VP of XT Exchange, presenting it as a possible rival to the favored SHIB token. Now, its credibility hangs within the steadiness because the cryptocurrency world watches intently to see how this controversy unfolds. 

In the realm of blockchain and cryptocurrency, belief and authenticity are paramount, and this incident serves as a stark reminder of the necessity for thorough due diligence and transparency within the trade.

The Miss Universe Coin could have shone brightly on stage at PBW, however its true colours stay unsure. 

Featured picture from Sashesandscripts