“Liquid MarketPlace, one of Logan Paul’s crypto businesses, is currently under investigation and has been accused of being a “multi-layered fraud.”
The influencer-turned-wrestler has already faced difficulties in the past when YouTube investigator Stephen ‘Coffeezilla’ Findeisen claimed that the CryptoZoo project, which is based on cryptocurrency and blockchain technology, was his “largest scam.”
Despite Paul’s promise to use $1.8 million of his own money to reimburse investors, this effort only mitigated some of the losses and sparked additional criticism. Currently, Paul is suing Findeisen for defamation, although the YouTuber suspects that the motives behind the lawsuit may be related to Liquid MarketPlace rather than CryptoZoo.
This is due to the fact that, similar to CryptoZoo, Liquid MarketPlace is currently under investigation and has been charged with “fraud.”However, the question remains: what is Liquid MarketPlace and why is Paul attempting to stop Findeisen from speaking about it?
Introducing my next company, Liquid Marketplace (@LiquidMarketpl) — you can now own a piece of the rarest collectibles in the world.By fractionalizing expensive assets, we’ve essentially made it possible for ANYONE to own ANYTHINGhttps://t.co/qIa62dmQg0 pic.twitter.com/SbFnL8zIAV
— Logan Paul (@LoganPaul) April 5, 2022
In April 2022, Paul announced the launch of Liquid MarketPlace with the company’s main goal being to allow investors to buy and sell “fractions of rare collectibles”through tokens on the Blockchain.
Despite Paul not being named in the proceeding, the Ontario Securities Commission (OSC) claimed in June 2024 that a Canadian government agency uncovered a “multi-layered fraud” . This involved top executives diverting millions of funds for “personal enrichment” , violating Ontario law, and deceiving OSC staff.
Before OSC began their investigation, Findeisen had heard rumors that there may have been issues with Liquid MarketPlace. In an attempt to investigate these claims and potentially assist Paul, Findeisen initiated his own investigation. However, he was soon faced with a defamation lawsuit.
The topic will commence at 9:31.
Believing that Paul intended to provide a “complete reimbursement”to CryptoZoo victims, Findeisen initially chose to assist the influencer in bringing attention to the “potential issues”that Liquid MarketPlace was encountering.
Despite hearing troubling stories about the company, Findeisen contacted Liquid MarketPlace’s CEO Ryan Bahadori in order to confirm the validity of these claims. However, he alleges that both Paul and Bahadori refused to provide any information.
Findeisen clarified, “I want to emphasize that this is not an accusation. I am not making any accusations against Logan Paul or Liquid MarketPlace for any wrongdoing.”He further explained that it was his responsibility to investigate “unverified claims”. Despite this, when OSC’s investigation became public, Findeisen still had lingering inquiries and once again tried to contact Paul.
Findeisen sent a message to the co-founder, reminding them of their previous conversation about the allegations and requesting a response. They granted a 24-hour window for a reply.
Despite having only three hours left before the 24-hour deadline, he was still served with the defamation lawsuit. He acknowledged that there were still many unknowns about Liquid MarketPlace, but he assured that he would persist in his investigation despite the lawsuit’s attempt to intimidate him.
“It is possible that Logan is completely innocent, but it is also possible that he associated himself with dishonest individuals who deceived his fans. While there is a chance that he may offer refunds for this project, it should be noted that the investigation is still ongoing.”
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