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Axis Robotics says team and investors sold no AXIS, suspects OTC counterparty

NewsFeeds update

Axis Robotics says neither the team nor investors sold tokens, with 835m AXIS, 83.5% of supply, still in vesting contracts managed with Binance and locked for 12 months. It suspects an OTC counterparty sold ecosystem tokens from the initial float in breach of a written lock-up agreement, has paused further deals with it and is reviewing the agreement with legal counsel.

AltcoinsChainCatcherAIBearish

Read the original on ChainCatcher

The story so far: Axis Robotics AXIS insider selling

ZachXBT said Axis Robotics insiders took over 76m AXIS, worth over $12m, from a multisig, sold them via DEXs and moved some to Bitget, sending the token down 40%. Axis Robotics denies team or investors sold tokens, says 83.5% of supply is locked, and suspects an OTC counterparty breached a lock-up agreement.

  1. ZachXBT says Axis Robotics insiders sold over 76m AXIS tokens

    On-chain detective ZachXBT says insiders at Axis Robotics (AXIS) took more than 76m AXIS, worth over $12m, from a multisig wallet, sold them via DEXs and moved some to Bitget, sending the token down 40% in 24 hours. One insider sold 42m AXIS and holds over $5.04m in USDC across eight wallets.

    AltcoinsPANewsAIBearish

  2. Axis Robotics says team and investors sold no AXIS, suspects OTC counterparty

    Axis Robotics says neither the team nor investors sold tokens, with 835m AXIS, 83.5% of supply, still in vesting contracts managed with Binance and locked for 12 months. It suspects an OTC counterparty sold ecosystem tokens from the initial float in breach of a written lock-up agreement, has paused further deals with it and is reviewing the agreement with legal counsel.

    AltcoinsChainCatcherAIBearish

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Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.