Doug Polk and Phil Hellmuth in Twitter Cryptocurrency Spat

4 months ago
11:48
15 Jul

Doug Polk and Phil Hellmuth have clashed this week over their respective favourite cryptocurrencies, Polk accusing Hellmuth of backing a “scam” coin while Hellmuth retorting that Polk was “100x more at fault”.

The spat revolves around Hellmuth’s promotion of Bitcoin Latinum and Polk’s CoinFlex involvement, both cryptocurrencies in serious trouble recently.

Earlier this year, a 40-page lawsuit was filed in Michigan alleging that poker pro Kevin Jonna and Bitcoin Latinum “diverted and misappropriated investment funds for personal use while committing securities and wire fraud …”

Hellmuth, rarely seen without his Bitcoin Latinum-logoed baseball cap, has been described as an angel investor in the beleaguered crypto start-up, but claims he is simply a “paid endorser”.

Meanwhile, last month saw CoinFlex take centre stage in the cryptowars with a $47million debt allegedly owed by Roger Ver leading to customer withdrawals being put on hold.

Polk, who has carved out a new career in the crypto world, has heavily promoted CoinFlex on his podcast, but refuted claims he was to blame for people losing money.

“Alright I've had enough of this nonsense 1) Coinflex is an exchange not some obvious scam 2) A long list of very legitimate people have invested in this company 3) They are in this mess because they did not do what was advertised 4) I stepped down immediately when I found out,” tweeted Polk.

Polk added:

“People are coming after me like I'm the person at fault and/or this says something about my character. I stand by my decisions and I have done the right thing every step of the way. The difference between this and closing your eyes and wearing a bitcoin Latinum hat is tremendous.”

The Polk-Hellmuth cryptofeud was given impetus by Hustler Casino Live co-founder Nick Vertucci, who later deleted a tweet that defended Hellmuth and harangued Polk.

However, that beef didn’t last long, Polk later tweeting out that they had kissed and made up:

“Had a chat with @NickVertucciNV, on the same page here now. He took down the tweet and we mended fences. Hustler is doing great things, don’t want to take away from what’s going on over there.”

Perhaps the last word on the poker-pro crypto-battle should be a simple one...


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Andrew from Edinburgh, Scotland, is a professional journalist, international-titled chess master, and avid poker player.Read more

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