Crypto exchange Bybit’s native token BitDAO (BIT) plummeted 20% suddenly on Tuesday. Ben Zhou, the co-founder of crypto exchange Bybit, believes that Alameda Research dumped BIT tokens and breached the commitment to avoid selling each other tokens for at least 3 years. The community may dump 3,362,315 FTT tokens if Alameda doesn’t give proof within 24 hours.
Alameda Breached Commitment and Dumped BIT Tokens
The BitDAO community issued an emergency proposal on November 8 seeking Alameda Research to share the on-chain address of BIT tokens stored as part of the 3-year mutual commitment. The move came after Bybit co-founder Ben Zhou blamed Alameda for selling BitDAO (BIT) tokens.
“Bitdao community is questioning the sudden dump of $bit token caused by Alameda dumping and breaching the 3 yr mutual no sale public commitment. Nothing is confirmed but bitdao community would like to confirm a proof of fund from Alameda.“
Bybit’s exchange token BIT suddenly plummeted by 20% in an hour
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