BitDAO in disarray after Alameda allegedly dumps BIT- Decoding details

BitDAO BIT, the token of the Bybit contribution group, dumped as much as 20% in less than two hours after Alameda Research made moves to sell-off its BIT holdings. In an unanticipated tweet, Bybit CEO, Ben Zhou, alerted the crypto industry about some concerns of the BitDAO community.

Timeline of Bitdao

The BitDAO community is one of the most recognized decentralized autonomous organizations – known as DAOs. BitDAO carries out its operations by allocating funds to ensure the constant development of the decentralized finance (DeFi) sector.

After the Bitdao token's quickfire plunge on Nov. 7, members of the Bitdao community have asked Alameda Research to address rumors the principal trading platform has dumped Bitdao's BIT tokens.

BitDAO (BIT)suspected FTX founder Sam Bankman Fried's venture capital firm Alameda Research of breaching an agreement made in 2021 and selling its 100 million BIT tokens, causing BIT to plummet. The post BitDAO suspects Alameda of dumping BIT tokens, asks for proof of funds appeared first on CryptoSlate.

BitDAO had asked Alameda Research to provide on-chain proof that it had not sold the 100 million bit tokens it received last year. The post Alameda provides proof it holds 100 million bit tokens after BitDAO query appeared first on The Block.

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.

BitDAO's community will decide whether to invest part of its treasury to earn a yield on the Ichi platform. The post BitDAO voting on proposal to earn yield from part of its $2.1 billion treasury appeared first on The Block.

As the Uniglo presale continues, many investors are looking to move their profits from Evmos and BitDAO into Uniglo. Both of these cryptocurrencies have been performing well lately, but with Uniglo's strong business model, many holders are looking to take advantage of the situation.

BitDAO is set to become an anchor partner for AfricaDAO, an investment fund that wants to drive Web3 adoption in Africa. The post BitDAO to fund AfricaDAO with $20 million for Web3 adoption in Africa appeared first on The Block.

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Quick Take BitDAO is an investment DAO launched by Bybit in June 2021 to provide funding for promising projects across the blockchain ecosystem through community-driven investment proposals It has become one of the largest DAOs in the crypto space with an estimated treasury of $2.8 billion in assets and has invested in four key verticals since inception A consistent growth in community and sustained influx of treasury assets will build a steady runway for BitDAO's success in the future