Обвинения в инсайдерской торговле: Создатель Plasma опровергает слухи о падении XPL Headline: Insider Trading Allegations: Plasma Creator Denies Rumors Amid XPL Decline

The founder of the stablecoin project Plasma, Paul Fex, has dismissed allegations of insider trading following a drop in the price of XPL by over 40%. Some community members remain skeptical of his statements.

«None of the team members sold XPL. All their assets and investors’ coins are locked for three years with an annual vesting process,» he wrote.

On September 25, Plasma launched the beta version of its mainnet and native token. XPL debuted at $1.30, reaching an all-time high of $1.68 just three days later. Since then, its price has plummeted by 41.8%, according to CoinGecko.

At the time of writing, the asset is trading at $0.90.

The community has suspected Plasma representatives of using algorithmic selling through the Time-Weighted Average Price (TWAP) method, where large orders are broken down into smaller ones. A user with the nickname ManaMoon highlighted a transfer of over 600 million XPL from the team’s wallet to exchanges before the launch.

«For my part, I believe that someone conducted excessive volume TWAP sales that retail buyers could not absorb,» he stated.

Another community member, known as crypto — popseye, also attributed the XPL price drop to the market maker Wintermute.

«Plasma ruined its schedule and momentum, so I hope their project fails,» he remarked.

Fex denied any connection between the project and the platform, emphasizing that he possesses the same information as the other users.

«We did not hire Wintermute as a market maker and never entered into any contracts for their services,» he stressed.

The community reacted skeptically to Plasma’s founder’s words. Crypto — popseye noted that Fex excluded sales by the team but left unclear the status of other categories of tokens, such as those allocated for «the ecosystem and its growth.»

«Everyone understands that they were sold off, but you worded your tweet as if that wasn’t happening. Stop lying, Polly, you can’t deceive on-chain,» he wrote.

User Melardev agreed, pointing out that there are more coins on exchanges than were sold during the presale:

«Of course, the team sold nothing — their tokens are locked, but ecosystem coins were definitely released to the market. For transparency, disclose how you utilized 800 million XPL.»

In his post, Fex specifically noted that the Plasma team «is focused on creating the monetary system of the future» and will not be providing any further comments.

It is worth recalling that in September, the stablecoin project announced the launch of the Plasma One neobank with returns exceeding 10% per annum.