Mantle pauses token migration to stop FTX from converting $43M in BIT tokens to MNT By Cointelegraph
[ad_1]
A community member started a discussion among participants in the Mantle decentralized autonomous organization (DAO), proposing to restrict the collapsed FTX exchange and Alameda Research from converting their BitDAO (BIT) tokens worth $43 million to Mantle (MNT) amid the ongoing token migration process.
On Nov. 2, 2021, BitDAO swapped 100 million BIT with Alameda in exchange for over 3.3 million FTX tokens (FTT). The trade came with a public commitment to hold each other’s tokens for a span of three years, which is until Nov. 2, 2024. However, amid the FTX fallout in 2022, BitDAO suspected Alameda of dumping the tokens and causing BIT to plummet. At the time, former Alameda CEO Caroline Ellison denied their involvement in the dump.
Continue Reading on Coin Telegraph
[ad_2]
Source link
A community member started a discussion among participants in the Mantle decentralized autonomous organization (DAO), proposing to restrict the collapsed FTX exchange and Alameda Research from converting their BitDAO (BIT) tokens worth $43 million to Mantle (MNT) amid the ongoing token migration process.
On Nov. 2, 2021, BitDAO swapped 100 million BIT with Alameda in exchange for over 3.3 million FTX tokens (FTT). The trade came with a public commitment to hold each other’s tokens for a span of three years, which is until Nov. 2, 2024. However, amid the FTX fallout in 2022, BitDAO suspected Alameda of dumping the tokens and causing BIT to plummet. At the time, former Alameda CEO Caroline Ellison denied their involvement in the dump.
Continue Reading on Coin Telegraph
About The Author
