it was mostly the SOLANA ecosystem coins: like Oxygen, Raydium, MAPS, All of them were created with the playbook of a very low float (initial available tokens) and very high fully diluted valuation (98% of the tokens would be released to investors later on).
You could check the graph of these coins , all these dropped 95-99% in value after investor tokens unlocks started. By this time the big investors already hedged (shorted) the tokens on ftx so they could lock in the value at the higher prices.
it was mostly the SOLANA ecosystem coins: like Oxygen, Raydium, MAPS, All of them were created with the playbook of a very low float (initial available tokens) and very high fully diluted valuation (98% of the tokens would be released to investors later on).
SBF on Twitter: “11) Paypal is likely the product with the largest userbase in crypto, at around 300m. Soon, the second largest will probably be MAPS.” / Twitter
You could check the graph of these coins , all these dropped 95-99% in value after investor tokens unlocks started. By this time the big investors already hedged (shorted) the tokens on ftx so they could lock in the value at the higher prices.
Hsaka on Twitter: “The greatest transfer of wealth this cycle has been from ignorant plebs to the Alameda/Solana/FTX VC crew running the low float high FDV scam. Tis a feature, not a bug, since people still continue to willingly donate their money.” / Twitter
As somebody in the industry I have to say Alameda/FTX pushing MAPS was surreal and cannot be explained as good faith investing by a competent team.
Thanks, that seems really bad and deceptive. Do you also have examples of tweets or people that were paid off by FTX to promote one of those coins?