Controversy emerged at the Philippine Blockchain Week when it was revealed that a “Miss Universe Coin” presented during the event and announced at the prior press conference turned out to be not associated with Miss Universe, the brand and pageant owned by Thailand-based JKN Holdings.
Read our coverage:
- Philippine Blockchain Week Addresses Miss Universe Coin Issue
- The Miss Universe Coin Debacle—A Lesson in Due Diligence and Transparency
- BREAKING: Miss Universe Says Miss Universe Coin is Fake
- UPDATE: Miss Universe Coin to Debut at Philippine Blockchain Week
Recap of Available Information
Press Conference Announcement
On the press conference for Philippine Blockchain Week, Donald Lim, the convenor of the event, announced in front of members of the press that “Miss Universe Coin” is going to be launched globally while debuting on the week long event in Manila.
At this same event, reigning Miss Universe Philippines 2023 Michelle Dee announced her own NFT initiative, which are “advocacy NFTs” to support autism awareness. This NFT project is totally unrelated to the Miss Universe Coin that Lim announced earlier.
Miss Universe Coin Presented on Stage at Philippine Blockchain Week
On the first day of Philippine Blockchain Week, Miss Universe Coin was presented on stage. Below are some screenshots from a video that recorded the Miss Universe Coin presentation:
Some of the benefits of Miss Universe Coin are as follows:
- Access to events
- Gifts to “cheer up” contestants via the MU FC PLatform
Miss Universe Coin is set to be “positioned to outshine SHIB”, referring to the meme cryptocurrency with a current market capitalization of $4.3 billion.
Who Presented Miss Universe Coin at Philippine Blockchain Week
Based on available documents and confirmation from multiple sources, Vincent Song, Global VP of XT Exchange presented Miss Universe Coin during the event. XT Exchange or XT.COM dubs itself on LinkedIn as the “leading crypto trading exchange infused with social trading capabilities.”
Song is Global VP of XT Exchange based on his profile on LinkedIn. Song does not have any current affiliation apart from being Global VP of the exchange.
Song is also associated with TCG Social Media Group (more on this later).
At the Philippine Blockchain Week Website, Vincent Song was set to deliver the keynote about Miss Universe Coin.
BitPinas sought Song and have asked him for a statement. BitPinas has yet to receive a reply from Song.
Miss Universe Organization Denies Involvement With Miss Universe Coin
In a stern statement, Miss Universe and its parent company JKN denied any involvement with Miss Universe Coin and vowed to take legal action:
It has come to our attention that a “Miss Universe Coin” was introduced at Philippine Blockchain Week.
The Miss Universe Organization and JKN Global Group are not associated or involved in any way, and will be pursuing all legal options with regards to this infringement.
There is currently no Miss Universe cryptocurrency or blockchain offering, and these products are in no way involved with the voting or selection process for MISS UNIVERSE or the Miss Universe Philippines pageants.
To our fans – please use caution and do not join in this falsely-named coin scam! We are doing everything we can to shut this down publicly, so that our community is not victims of this fraud.
Miss Universe Philippines Distances From Miss Universe Coin
A few hours later, Miss Universe Philippines Michelle Dee through her foundation – Global Spectrum Initiative – also issued a statement, denying any involvement with the coin.
“We wish to clarify that the Global Spectrum Initiative Inc. has no association or involvement with the recently introduced “Miss Universe Coin” during the Philippine Blockchain Week. Our primary purpose and focus remain to support individuals with autism and promote understanding and inclusivity for all.”
Philippine Blockchain Week Addresses Miss Universe Coin Issue
In a revised announcement, Philippine Blockchain Week addressed the controversy over the Miss Universe Coin. Initially posted and then removed from Telegram, the updated message has been shared on both Facebook and Telegram.
PBW’s announcement said they are taking the issue with the fake Miss Universe Coin seriously, are in touch with all parties concerned, and will provide updates as soon as possible.
PBW did not name the parties involved in its statement.
Questions remain unanswered, however, about how the Miss Universe Coin was able to pass the due diligence process set by the event organizers, as well as what steps it would take to make sure such incidents do not recur in future events. BitPinas has sought clarification from PBW organizers about this.
Update 11:11pm: Miss Universe Organization To Be Sued For Claiming to Not Know About Miss Universe Coin?
According to an Instagram post: JKN Global, the owner of Miss Universe, is being sued (via Philippine Pageantry) in Thailand for false information by saying the Miss Universe Organization and JKN Global Group are not associated or involved in Miss Universe cryptocurrency project introduced during Philippine Blockchain Week.
Update: Sept 26: Miss Universe statement still stands despite lawsuit, owner told BitPinas
We’re aware that TCG Social Media Social Media Group has filed a lawsuit against us in Thailand regarding Miss Universe Coin.
To our knowledge, we have only a non-binding Memorandum of Understanding with TCG to discuss a potential future arrangement re: Miss Universe Coin, and this MOU strictly forbids any public announcements.
This is a developing story.
This article is published on BitPinas.com: Who is Behind The Miss Universe Coin?
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