According to Odaily Planet Daily, CoinSnacks released a report questioning the reasons for the rise in the share price of DeFi Technologies (stock code: DEFI). The report pointed out that the company conducted a series of promotional activities, including paid emails and influence activities, to increase the company's media exposure, and also won the support of cryptocurrency investors Anthony Pompliano and Will Clemente. CoinSnacks believes that these are abnormal reasons for the rise in the stock. On Monday before the report was released, DEFI was at 3.3 Canadian dollars, up 202% since May 31. As of the close of Tuesday, the stock had plummeted 35% to 2.24 Canadian dollars per share.

DeFi Technologies responded to the CoinSnacks report in a public press release on Wednesday, calling it "defamatory, selective, inaccurate" and containing "misleading statements" about the company's practices and financials. The company speculated that the report may have been commissioned by short sellers looking to drive down the stock price. DeFi Technologies said that on June 10, a Canadian investment bank approached the company with a $15 million acquisition offer. The company believed that this was a very low number given the company's newfound financial strength. The same day, the company reported that its funds alone were worth $60 million, of which $7.9 million had been converted to Bitcoin.