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.
- Content Editor ( crypto.news )
- 2024-10-01
3AC meme coin fund criticized for allocating 84% of tokens to team and insiders