ACX Token Slides 10% as Accusations of DAO Manipulation Rock Across Protocol
Bitget2025/06/27 07:40Accusations of governance manipulation and insider trading have rocked Across Protocol’s ACX token on Friday after well-followed X users alleged that core contributors front-ran a Binance listing and still control the supposedly decentralized DAO.
However, the team swiftly denied any such claims.
Across Protocol’s token, ACX, is down 10% amid the drama. The allegations, whether substantiated or not, appear to have shaken trader confidence, with ACX seeing a spike in trading volume alongside the price drop, suggesting market participants are reacting swiftly.
Across co-founder Hart Lambur has called the accusations “categorically untrue” and denied all misdoings.
“Risk Labs was granted ACX tokens from the DAO to build the Across protocol,” he wrote in a Friday post. “This is standard practice for DAOs! Since the first grant passed (in October 2023), we shipped Across v3 and grew the protocol massively.”
“Since the second grant passed (in October 2024), we have built Across v4 with some incredible new technology (to be announced very, very soon), and we’ve hired brilliant new team members with these tokens (that vest over 4 years). We are using the ACX tokens exactly as intended,” Lambur added.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Hudbay Minerals' Resilient Recovery and Operational Continuity Post-Wildfire
- - Hudbay Minerals swiftly resumed operations after a 2025 Manitoba wildfire, demonstrating robust crisis management and infrastructure protection. - - The company maintained 95% of its Q3 2025 production guidance, reinforcing investor confidence through transparent, disciplined execution. - - HBM's stock showed below-industry volatility during the crisis, highlighting operational resilience as a key differentiator in climate-risk-prone mining sectors. - - The incident underscores the growing importance o
A detailed analysis of the AAVE V4 upgrade: Reshaping lending with modularity, can the old token see a new spring?
This V4 update may allow us to see its strong competitiveness in the DeFi sector in the future, as well as the underlying reasons for its continuously increasing business volume.
XRP News Today: SBI's XRP Bet Stands Strong Amid Blockchain Expansion Surge
- SBI Holdings reaffirms XRP's strategic role in cross-border payments despite new blockchain partnerships with Chainlink, Circle, and Startale. - Chainlink's CCIP and compliance tools enhance SBI's infrastructure, but XRP remains critical for live corridors like Japan-Philippines due to cost efficiency. - SBI's ventures include USDC adoption with Circle and RWA tokenization with Startale, aiming to merge traditional finance with DeFi for 24/7 trading. - XRP's $2.92 price resilience and $176B market cap re
Ethereum News Today: VersaBank Aims to Redefine Digital Banking with FDIC-Backed Tokenized Dollars
- VersaBank USA launches tokenized deposit pilot using USDVBs, FDIC-insured digital tokens backed by cash deposits. - Pilot tests thousands of low-value transactions on Algorand, Ethereum, and Stellar blockchains via proprietary platforms. - Bank seeks OCC non-objection to commercialize USDVBs, emphasizing compliance with BSA and OFAC regulations. - USDVBs differ from stablecoins by offering bank-issued interest and enhanced security through federal charter. - Program aims to establish VersaBank as a leade
Trending news
MoreCrypto prices
More
