CandleFocus 3AC meme coin fund criticized for allocating 84% of tokens to team and insiders
2024-10-01
Author: Content Editor
Three Arrows Capital's meme coin fund, Three Arrowz Capitel, is facing criticism for allocating 84% of its tokens to wallets belonging to team members and insiders. This has raised concerns of price manipulation and inflation. Analysis shows that only 8% of the tokens are allocated to the community, while another 8% falls under liquidity. The remaining 84% is held by insider wallets. Investors are being warned that buying into this token means placing trust in a small group of insiders who control a majority of the supply. Three Arrows Capital filed for bankruptcy in July 2022 and its founders have faced regulatory scrutiny.
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