$AVAX breaks through $10: Behind the respectability, a thousand holes。
The foundation quietly transferred $180 million. On-chain analyst Emperor Osmo accuses: In the six months, the Avalanche Foundation continuously transferred about $180 million worth of AVAX to Coinbase, about 1.88% of the circulating supply, and never announced it.
The stock price of the listed company fell 93% in one month. Avalanche Treasury (AVAT) uses AVAX as its core reserve; the price dropped from above $10 to below $0.73. SEC filings warn that there is significant uncertainty regarding the ability to continue as a going concern. The cumulative investment of about $265 million to buy AVAX left only about $123 million on the books as of the end of March.
The SEC has long pointed out AVAX market manipulation. In AVAT’s SEC filings, it explicitly lists potential fraud sources in the AVAX market: wash trading, price manipulation by those holding dominant positions, and hacker attacks.
On-chain “prosperity” depends on “renters.” TVL nears $488 million, but about 40% of it is BlackRock’s BUIDL money market fund—an “overflow parking lot” for buying short-term U.S. Treasuries.
Security vulnerabilities are exploited again and again. Stars Arena suffered a re-entrancy attack, DeltaPrime lost about $4.8 million due to a flash-loan incident, and Platypus Finance has not restarted its liquidity pool since being hacked.
The foundation quietly transferred $180 million. On-chain analyst Emperor Osmo accuses: In the six months, the Avalanche Foundation continuously transferred about $180 million worth of AVAX to Coinbase, about 1.88% of the circulating supply, and never announced it.
The stock price of the listed company fell 93% in one month. Avalanche Treasury (AVAT) uses AVAX as its core reserve; the price dropped from above $10 to below $0.73. SEC filings warn that there is significant uncertainty regarding the ability to continue as a going concern. The cumulative investment of about $265 million to buy AVAX left only about $123 million on the books as of the end of March.
The SEC has long pointed out AVAX market manipulation. In AVAT’s SEC filings, it explicitly lists potential fraud sources in the AVAX market: wash trading, price manipulation by those holding dominant positions, and hacker attacks.
On-chain “prosperity” depends on “renters.” TVL nears $488 million, but about 40% of it is BlackRock’s BUIDL money market fund—an “overflow parking lot” for buying short-term U.S. Treasuries.
Security vulnerabilities are exploited again and again. Stars Arena suffered a re-entrancy attack, DeltaPrime lost about $4.8 million due to a flash-loan incident, and Platypus Finance has not restarted its liquidity pool since being hacked.
