Worldcoin (WLD) has come under fire for accusations of price manipulation, raising concerns about the integrity of its market-making activities.
The well-known crypto analyst ZachXBT called #Worldcoin "the biggest fraudulent #token on the bull run, indicating serious doubts about the legitimacy of the token. The criticism comes in response to a statement from crypto analyst #BTC Squared, who claims that the Worldcoin team actively influenced the token's price through strategic moves.
According to DeFi Squared's report, the Worldcoin team manipulated the token's price by deliberately altering the issuance schedule and agreements with market makers.
This claim contradicts CEO Alex Brania's claims of market neutrality. Recent developments, such as the extension of the unlocking deadline for a significant portion of tokens owned by the team, are seen as a potential ploy to drive up token prices before the unlocking date and benefit insiders.
The report also emphasizes that Korean retail investors own a significant share of #WLD , which could unwittingly serve as a source of liquidity for insiders looking to exit their positions.
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