As a long-term crypto investor with over five years of experience in the market, I have seen my fair share of allegations and controversies surrounding various projects. However, the recent accusations against Worldcoin for insider trading and price manipulation are particularly concerning.
Worldcoin strongly refutes the accusations made by DeFi Squared regarding insider trading and artificially influencing the price of the Worldcoin (WLD) token in the decentralized finance sector.
Further reports surfaced from an anonymous crypto analyst, identified as ZachXBT, who alleged that Worldcoin enabled its insiders to make ill-gotten gains through the sale of what he derided as a “deceptive cryptocurrency token.” ZachXBT claimed this was the most significant such scheme during the ongoing bull market. In response, Worldcoin asserted zero tolerance towards such malfeasance.
Worldcoin’s Firm Stance on Market Integrity
Representing Worldcoin, a spokesperson stressed that the organization treats any accusations of insider trading with utmost importance. They underscored that both the Worldcoin Foundation and Tools for Humanity prioritize upholding stringent market standards. No proof has surfaced to substantiate the allegations of insider trading or price manipulation.
The representative stressed that Worldcoin maintains rigorous rules against sharing confidential details concerning WLD purchases, thus deterring insider trading. Additionally, throughout those specified timeframes, they adhered to a trading restriction, making it impossible for them to trade WLD tokens.
Impact of Unlock Delay on Token Prices
The revelations concerning Worldcoin arose after the company announced pushing back the release of 80% of its WLD stockpile for two more years. On July 16th, Tools for Humanity announced an extension of the unlocking timeline for their tokens via a blog post. Consequently, this decision triggered a significant increase in demand and subsequently, a 68% price hike for WLD within just two days, positioning it among the most profitable investments at that moment.
The Worldcoin spokesperson emphasized their dedication to upholding market openness and preventing manipulation. They reassured shareholders of their unwavering commitment to transparency and moral conduct.
In spite of the accusations levied against it, Worldcoin’s token has witnessed substantial price surge after the unveiling of the unlock delay, indicating robust investor faith in the market.
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2024-07-23 20:05