CandleFocus Justin Sun dumps another $14M of EIGEN after week of controversy
2024-10-09
Author: Content Editor
EigenLayer's token, EIGEN, has experienced a week of drama, with Justin Sun depositing 3.62 million EIGEN to Binance. The deposits, along with a decline in price, suggest a large volume of EIGEN sales. EigenLayer has also faced criticism for its operations, which do not utilize Ethereum's trust-minimizing smart contracts. The project has been investigating unapproved selling activity and fell victim to a phishing email. Sun's potential involvement in rearrangements of wrapped Bitcoin has raised concerns over the token's credibility.
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