Worldcoin Faces Allegations of Price Manipulation as Unlocking Period Extends

IconCryptoNewsTerminal Staff17 Jul, 2024

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Worldcoin Faces Allegations of Price Manipulation as Unlocking Period Extends

Worldcoin Accused of Price Manipulation Worldcoin is facing allegations of price manipulation after extending the unlocking period for 80% of its team allocations from three years to five years. This move has raised concerns among cryptocurrency traders and blockchain experts. DeFi^2 Highlights Price Fluctuations Cryptocurrency trader DeFi^2 noted that Worldcoin (WLD) has experienced significant price fluctuations, which may be tied to the team's decisions regarding tokenomics and the involvement of market makers. Some believe insiders used non-public information to purchase WLD ahead of the announcement. Blockchain Specialist Raises Concerns Blockchain security specialist ZachXBT criticized the move, stating that it "allows insiders to continue to profit." He urged the Worldcoin team and associated venture capitalists to be held accountable. Worldcoin Yet to Respond Cointelegraph contacted Worldcoin for clarification but has not received a response. The allegations raise questions about the transparency and ethics of Worldcoin's tokenomics and management practices. Further developments will be closely monitored.

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