TechFlow news, according to sources, Bybit CEO Ben Zhou responded in the community regarding the sharp drop in BIT price, stating that someone had previously promised not to sell their 100 million held BIT tokens, and Bybit may have been deceived.
At the time of publication, BIT has dropped 32.16% in 24 hours, currently trading at $0.27. It is reported that Alameda Research submitted BIP-4 proposal to BitDAO in October 2021, suggesting an exchange of 100 million BitDAO governance tokens (BIT), approximately 1% of total supply, for about 336.23 FTT tokens, also roughly 1% of total supply. Both parties were required to publicly commit to not selling each other's tokens for three years. The proposal was approved via voting on October 30, 2021. Original link
