Ren Protocol deep dive:
2018: ICO raised ~$30M
Peak TVL: $852M (self-reported)
Today: 302 renBTC left (basically dead)
2021: Team sold to Alameda (price undisclosed)
2022: Elliptic flagged dirty money flowing through
Taiyang Zhang (founder) is married to Thai MP Idea. Classic ICO-to-exit playbook. $REN holders got rekt while insiders cashed out to FTX's trading arm before the collapse.
Another reminder: follow the liquidity, not the narrative.
2018: ICO raised ~$30M
Peak TVL: $852M (self-reported)
Today: 302 renBTC left (basically dead)
2021: Team sold to Alameda (price undisclosed)
2022: Elliptic flagged dirty money flowing through
Taiyang Zhang (founder) is married to Thai MP Idea. Classic ICO-to-exit playbook. $REN holders got rekt while insiders cashed out to FTX's trading arm before the collapse.
Another reminder: follow the liquidity, not the narrative.