TechFlow news — Waves founder Sasha Ivanov has accused Alameda Research on Twitter of manipulating the WAVES price, orchestrating a FUD campaign, and triggering panic selling.
Last week, WAVES hit a record high of $63.59. However, since then, it has suffered a sharp sell-off, with the price of WAVES dropping by 30%. Meanwhile, during the same period, the broader cryptocurrency market has remained relatively stable.
Ivanov said everything started with a Bloomberg article reporting on the surge in the WAVES price, coinciding with the Russia-Ukraine conflict on February 24. The article cited comments from Peter Guo, a researcher at crypto investment firm Babel, who stated, “The immediate reason for the sharp rise in the WAVES price can be attributed to Western countries’ announcement on February 27 to remove certain Russian banks from the SWIFT banking system. In response to potential economic sanctions and limited access to traditional payment channels, some people may have rushed to adopt Waves.”
Although WAVES is widely perceived as a Russian project, and while Ivanov previously worked and studied in Russia, he emphasized that he was born in Ukraine. Ivanov attributed the rise in WAVES to its recently released roadmap, particularly the establishment of a U.S. subsidiary.
Ivanov said that it was during the first half of March, when WAVES began rising, that he noticed a deliberate campaign to discredit the project. Someone contacted him through the Vires Finance lending platform, requesting to borrow one million WAVES. He believed this was intended to short the token. He declined the request, as company policy prohibits selling or lending out WAVES. During his investigation into the幕后 actors, he identified an address starting with 3PHkZUJ, which Ivanov claims belongs to Alameda Research. This account’s trading pattern involved sending borrowed WAVES to Binance and then selling them, thereby driving down the price.
In response to the allegations, Alameda Research and FTX CEO Sam Bankman-Fried dismissed the claims as "bullshit" and labeled them a conspiracy theory.
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