Overview
- The token briefly neared a $600 million valuation at launch before plunging about 75–80% after withdrawals flagged by Bubblemaps.
- Adams’ spokesperson says he neither moved investor funds nor profited and characterizes the price swings as typical for new tokens.
- The project says the transactions reflected TWAP liquidity rebalancing by partners and that additional funds were added to the pool.
- Bubblemaps counts roughly 4,300 traders with about 60% losing money, including at least 15 accounts down more than $100,000.
- Reporting names Frank Carone and Yosef Sefi Zvieli as involved in the launch, and notes Brock Pierce reviewed the effort post-launch and said no one ran off with investors’ money.