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crypto.news 2025-01-28 18:08:30

Aerodrome Finance suspends two contributors over insider trading

Aerodrome Finance suspended two contributors following allegations of insider trading during the launch of Venice’s VVV token. The decision came after an internal investigation was initiated just 30 minutes after suspicious trading activity was detected. Aerodrome Finance ( AERO ) is a decentralized exchange operating on Coinbase’s Base blockchain The platform, which specializes in automated market making and liquidity incentives, flagged irregular trading patterns shortly after Venice, an Erik Voorhees-backed AI startup, debuted its token on January 27. In a tweet, Aerodrome stated, “The timing of a small percentage of the trading activity around the $VVV launch was flagged by internal monitoring…triggering an internal investigation.” A note on the $VVV launch. Projects often launch tokens on Aerodrome and launches are closely monitored. The timing of a small percentage of the trading activity around the $VVV launch was flagged by internal monitoring in less than 30 minutes – triggering an internal… — Aerodrome (@AerodromeFi) January 28, 2025 The contributors were suspended within three hours of the token’s launch. Aerodrome Finance emphasized its commitment to ethical standards, noting that the investigation remains ongoing and that further action may be taken. You might also like: Securitize taps Wormhole as primary interoperability solution Venice’s token launch Venice launched the VVV token as part of its broader strategy to integrate artificial intelligence with blockchain technology. By staking VVV tokens, users gain access to Venice’s API for generative text, images, and code. This model aims to replace traditional pay-per-request systems by granting stakers a share of the platform’s expanding computational capacity. You might also like: Coinbase gains regulatory approval to operate in Argentina