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Worldcoin denies allegations of insider trading and price manipulation, says it has “zero tolerance” for such behavior

Worldcoin denies allegations of insider trading and price manipulation, says it has “zero tolerance” for such behavior

CointimeCointime2024/07/23 10:34
By:Cointime

Worldcoin denied recent allegations that it allowed internal staff to profit through WLD and emphasized a "zero-tolerance" policy towards such activities.A spokesperson stated, "The Worldcoin Foundation and contributor Tools for Humanity take any allegations of insider trading seriously, even if unsubstantiated, and we will not tolerate such behavior."The spokesperson added that neither organization has found evidence to support allegations of insider trading and price manipulation, and maintains a strict market integrity policy to prevent such activities.The representative also stated that those covered by their policy are "prohibited from disclosing confidential information related to WLD purchasing decisions at any time." The spokesperson added that these individuals are subject to effective controls and prohibited from engaging in any WLD trading activity during the relevant period.Earlier, Worldcoin faced community price manipulation and fraud allegations due to the delay in unlocking 80% of its native tokens. Cryptocurrency investigator ZachXBT wrote on the X platform that the WorldCoin project allowed internal staff to continue to profit from its "scam." DeFi Squared also disclosed that prior to the announcement, someone in the WorldCoin team was suspected of "using insider information to buy news in advance."

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