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The creator of the Waves blockchain platform Alexander Ivanov accused Alameda Research of creating the conditions for panic sales of WAVES
Alameda Research, founded by the head of the FTX crypto exchange, manipulates the price of WAVES and creates market conditions for panic selling. Alexander Ivanov, the creator of the Waves blockchain, announced this on his Twitter page.
He believes that the WAVES price pump at the end of March was the result of artificial manipulations by structures close to Alameda Research. The chronology of events was as follows:
- Ivanov learns about the incoming transaction of tokenized WAVES on FTX through an interview with Bloomberg.
- At the end of March, the price of WAVES starts to rise sharply.
- Since the beginning of April, the price of WAVES in the WAVES/USD pair has fallen by more than 26%.
The expert believes that Alameda Research could be behind the manipulation, since a price tag of $1.5 million was requested for the listing of the native WAVES token in FTX. He did not specify whether Waves agreed to the stated conditions.
Later, Ivanov’s attention was drawn to a post by an unknown user on Twitter under the nickname @sasha35625. He said that WAVES will collapse in price due to the fact that to manipulate a token with billions of trading volumes, just a loan of a couple of million dollars is enough. Soon, according to the creator of Waves, they were approached by someone for a loan of 1 million WAVES.
The company refused. However, Ivanov later noticed that an address associated with Alameda Research (3PHkZUJpS3AfmnXBNLCBmpqL25GJZb1hGiE) had borrowed more than 630,000 WAVES tokens (~$31 million) through the Vires platform at ~20% per annum.
According to the head of Waves, the address was redirecting the tokens to Binance in order to sell them and cause a dump. The transactions coincided with the psychological manipulation of WAVES on the network. According to the expert, manipulators initially provoked an increase in the price of WAVES on FTX.
After closing positions for profit, they opened short positions, but those did not work as the price continued to rise. In order for the short trade to still pay off, the attackers took out a loan and staged psychological manipulation on the network to collapse the price of WAVES. FTX CEO Sam Bankman-Fried responded by calling Ivanov’s claims “obvious shitty theory.”
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