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Altcoins

Millionaire CEO Announces He Will Purchase a Large Amount of a Surprise Altcoin—But Only Under One Condition

By admin
0 3

Millionaire CEO Announces He Will Purchase a Large Amount of a Surprise Altcoin—But Only Under One Condition

Andrei Grachev, CEO of DWF Labs, one of the controversial names in the cryptocurrency market with his moves, signaled in his statement today that they could invest more in a surprise altcoin.

Speaking on social media platform X (formerly Twitter), Grachev shared that they currently hold 5 million NEAR tokens, with an additional 6 million staked NEAR tokens. This means the company holds approximately $29 million worth of NEAR tokens.

Addressing Near Protocol developers, Grachev called for the token’s inflation rate to be reduced from the current 5% to 2.5% and stated that they are ready to purchase 10 million NEAR tokens worth approximately $26 million from the secondary market if this is done.

DWF Labs was recently accused of manipulation by rival market makers. Onchain data shows the company has $15 million in assets outside of NEAR tokens, led by Ethereum at $6.4 million and JST at $1.77.

*This is not investment advice.

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