On October 25, Rooter, the founder of Solend, the Solana lending project, shared in a tweet that Alameda Research manipulated the token price in the Solend IDO.
According to the share, during the Solend IDO in early November 2021, two addresses affiliated with Alameda Research pushed Solend’s FDV (Fully Diluted Valuation) to $2.5 billion by buying $40 million each code on the first day.
That action brought the total raised to more than $100 million to “shoo off” retail investors by raising prices, and withdrawing $80 million at the last minute of day two of IDO, Solend eventually raised $26 million.
Rooter also said: “Alameda’s actions reflect SBF’s ideology “profit absolves all sin” the ends justify the means.”
Neither Alameda Research nor Sam Bankman-Fried have commented on the allegations yet.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Foxy
CoinCu News
Cryptocurrency exchanges are one of the most important institutions in the whole industry, acting as…
Although the Pi Network mainnet launch date has not yet been set, rumors surrounding it…
Supported by Immunefi, the Solana Firedancer bug bounty program aims to secure blockchain systems with…
Bitcoin is experiencing renewed pressure amidst concerns over the ongoing Mt. Gox's compensation, the defunct…
Bitcoin price performance has led asset classes since 2011, up 145.9% as of July 5,…
Ether.fi Season 2 airdrop promises significant rewards, including up to 150 ETHFI tokens for small…
This website uses cookies.