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Jason Derulo is an R&B singer and songwriter with over 30 million monthly listeners on spotify who started his career in 2009 and has since become a big name in the scene. That's for those unfamiliar with the pop music landscape of the past decade.
Although Derulo is still releasing music, with his new album Nu King released this year of 2024, the musician has recently shifted his secondary priorities to YouTubing, podcasting, and crypto-promoting. A trend many celebrities seem to follow.
Derulo has been involved in several crypto projects recently, but the most notable move was him launching his own Jason Derulo $JASON token on Solana via the Pump.Fun launchpad. Very soon after, Derulo posted a tweet saying that Sahil Arora, the prominent celeb coin promoter and known scammer, has "got him", implying a rug pull.
Sahil has been involved as a promoter in Pump.Fun celeb coin campaigns from Caitlin Jenner, and allegedly Lindsay Logan, Soulja Boy, Rich the Kid, and others. Some crypto-trader twitter users believe that Arora may be connected to the most recent celeb coin rug pulls, to a wallet that made $16k on $JENNER.
Derulo’s next tweet said that he bought $20k worth of $JASON and is in for the long run to see the token on the moon. He said it was his "life's goal" to help the coin recover. Funnily enough, the twitter's reader context card under that tweet now says "This user is a scammer and has participated in many crypto pump and dumps."
Then, Derulo posted an additional apology video, vaguely saying that what happened was bad.
Sahil Arora, on the other hand, said to Decrypt that the drama with Derulo's coin, like with many other celeb tokens, was orchestrated by him, and that Derulo blaming him as also part of the scheme.
Arora also recently launched a coin that was said to be officially endorsed by Iggy Azalea, but it was a lie. Azalea's team was warned not to work with Arora.
Following Arora's initial promotion of $JASON and Derulo's new song title, the token jumped by over 1,500% to a $1.85 million market cap, then crashed ~72% to a $200,000 market cap minutes later.
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The pump and dump-like event inspired crypto twitter to claim that this was a rug pull.
Then it was said that a Derulo-associated wallet that received tokens from the Arora wallet has sold $20,000 in $JASON. The concerns about "secret" wallets of Derulo were raised by a twitter user during one of Derulo's twitter spaces.
Additionally, famous crypto sleuth zackXBT called out Derulo on his rather shady involvement in crypto projects. zackXBT also replied to Derulo's apology video, saying he's not actually sorry, after having promoted many crypto scams over the years.
Also notable is Jason Derulo's promise to never sell his $JASON tokens, which was broken, according to the Bubblemaps analytics firm. Bubblemaps noted on twitter that they found Sahil Arora-associated wallets that held half of $JASON's supply and dumped after making a $180,000 profit.
Some decent coverage on this comes from Coffeezilla, on the investigator's alternative "voidzilla" channel.
First, Jason Derulo's YouTuber and music career's mishaps were highlighted, alleging that he lacks originality so much that he's been stealing other people's content by simply watching it on camera. Then Coffezilla said that Derulo steals even crypto scam ideas from other celebrities.
The video also shows Jason Derulo's 'On the Road' podcast clip from months ago where the guest is a crypto scammer who got away with it and was covered on Netflix. The clips show Derulo saying he needs to "protect" and "pump" his bags in a conversation about the prevalence of crypto scams.
When confronted about dealing with Sahil Arora, a famously shady crypto promoter, Derulo said in a twitter spaces that Sahil simply "got his attention" and that even though he knew it was "bad to talk to this guy", the singer still went for it.
Today, the $JASON token has only ~$210,000 in liquidity and around 3,200 holders.