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KOL exposure: It is rumored that ATH executives teamed up with investors to short against the founder, laying out large short orders and dumping Spot to profit.
On October 23, according to the KOL crypto fearless leak, there have recently been insider reports from multiple parties regarding the recent big dump of ATH, with a total of two versions: Version One: After the founder advocates a pump, they then dump and open a short. Through investors, partners, and practitioners around them, the insider favourable information of “a pump is about to happen” is spread, leading to high-level dumping. Version Two: Senior executives within ATH, dissatisfied with the uneven distribution of profits by the founder, secretly united with investor VCs to leverage and short, acting as a counterparty to the founder's fundraising for the pump. It is reported that this internal executive held meetings with the boss and other colleagues, fully grasping and participating in all favourable aspects, such as the $350 million DAT financing. During the process of pumping to the highest point, they placed a massive short order to coordinate with the Spot chips for dumping, ultimately resulting in a big dump to harvest the community. In addition, the team also used well-known leak bloggers like Crypto World Encyclopedia to disclose day-to-day details and many favourable actions of the company, forming public sentiment for shorting through the exposure by the bloggers.