Closing $LAB now. This trade wiped out about a month of profits, around $4.2M in a few days. Funding above -2.5% is just crazy. I was going to hold longer or wait for a flush, but that's not happening anymore. This will probably dump hard very soon, but I can't afford that risk. It's also become very public, which doesn't help. I've learned a lot from this trade. I'll be back to compounding profits.
A summary of the RAVE -95% price fluctuation from $26 to $1 over the past 24 hours.
RAVE Timeline: April 18, 2026
7:26 am UTC: I posted a call to action for Binance, Bitget, & Gate to investigate RAVE market manipulation and offered a $10K bounty.
10:56 am UTC: I posted an update increasing the bounty to $25K.
11:18 am UTC: Bitget publicly acknowledged the call to action.
2:08 pm UTC: Binance publicly acknowledged the call to action.
3:06 pm UTC: RaveDAO posted claiming they have no involvement.
4:19 pm UTC: Gate publicly acknowledged the call to action.
In the days leading up, on April 13 & 14, I confronted RaveDAO co-founder Yemu Xu (wildwoomoo) but have yet to receive an answer.
RAVE launched in Dec 2025 on Binance Alpha with a 1B total supply. The addresses below, linked to the initial distribution, control ~95% of the RAVE supply (h/t Mlm):
0x9831156F1a6E506Fca41503590b42F07c2e80f54
0x8Ed6245C3276307E1A9D9Dc872E98A0E770070fd
0x6020656d1EF182173E45D4Fc375BDD5a48c674B0
0x2664cB80a5ee7D8EC05fe7C752dD62E078056E6d
0x2D81F8AeBf3e58A5e638006c9fd8F38C5220ecab
0x31694d761A8e851cFFbCd286aC54D01e5Ce5aFe6
0x0A1F07993a51CcEb4f52CA67765AECeADDA790d7
0xEB74Df8588cFC1C179Df4bd96C0bB8B227B9bE92
0x53d7d52301366DC14E1916b14eFeC1aDD8F3487b
I found suspicious CEX activity in April 2026 tied to RaveDAO team addresses onchain, which potentially contradicts their recent statement:
Bitget
0x2dc20f2180582172f5450c5d71e23fa438a7031b
0xa3a02aeb97fc1737c66f50d07d024799c137891d
0x2d95eb42525e6087e0cb7869f98da6838ed2e743
Gate
0x31711246b05d71e9eda5e38a3abb654020ee3353
Given the supply concentration, the team at minimum knows who is responsible for this price action.
A simple litmus test: $6B in market cap was wiped out on just $52M of 24hr liquidations (h/t CoinGlass). That ratio points to a manipulated and unsustainable valuation.
RAVE is not the only token with manipulation we have seen on major centralized exchanges. It's just the most blatant, reaching a top 15 market cap within 10 days before dropping 95% in hours.
Other projects with highly questionable price action recently include: SIREN, MYX, COAI, M, PIPPIN, RIVER.
Exchanges need faster intervention on manipulation. Detection at scale isn't easy, but each day of delay means retail traders absorb losses while platforms collect fees on the volume. The outcome is the same regardless of intent.
While it's good the exchanges responded, I find it unlikely this activity wasn't spotted internally before I raised it publicly.
I recognize how much this behavior takes from retail traders, and I plan to investigate similar movements in hopes of identifying the responsible parties.
I want to reiterate that I did not take a position. If I had, I would have been liquidated myself. I also could not anticipate if or when the exchanges would comment publicly.
My $25K bounty will remain active since the only DMs received were unverified claims rather than non-public information with supporting evidence as requested.
@how2onchain 80+ wallets from a single Gnosis Safe multisig → proxy contract → recipients.
Community: <600K tokens across 1,000+ wallets = ~$300K
Team: 180M tokens across 80 fresh wallets = $90M+
300:1 ratio. And they called it an "airdrop."
EDGEX AIRDROP - FULL BREAKDOWN
EdgeX airdropped $195 MILLION to their users. Or did they?
After on-chain sleuths called them out, EdgeX revealed that 14% of the airdrop was actually directed towards ‘partners and liquidity providers’. That’s $94.6M - almost HALF of the airdrop.
Introducing SeekerClaw
The first AI agent fully running on your @solanamobile. It does things. Incredible things.
What can it do? Download it. Ask yourself. You'll be surprised.
I didn't come into crypto 9 years ago to launch a shit coin.
I didn't come into crypto to get rich quick.
I came into crypto because I believe it's going to change the world, and that the industry was something worth dedicating my life to.
But somewhere along the way, amidst the booms, the busts, the moonshots, the decentralization theater, and the straight up scams, we lost our way.
I don't know about you, but I'm just tired of false promises. And that's what most things are today, simply promises. We live in the most centralized era crypto has ever experienced, and the more centralized something is, the less meaningful a token is.
While it's tempting to want to commit to these same promises, what happens if the team gets acquired? What happens if we want to re-invest into growth? What happens if we divert our time, energy, and resources out of band and circumvent the token altogether? What happens when the team and investors unlock? For many projects, the honest answer to these questions is not pleasant, and you see it in the price chart over and over again.
Unless something is completely decentralized to the point where an immutable protocol can function with the team having retired in the Bahamas sipping pina coladas all day, then utility is just a promise. Often that promise is admirable and well intentioned--but ultimately an unenforceable promise nonetheless. Outside of BTC, ETH, SOL, and a few others, nothing really passes this test. Noble new token models have emerged to solve this problem (shout out to MetaDAO), and today, we introduce our own.
Users that stake the Backpack token for at least a year will have the opportunity to exchange those tokens for equity at a fixed ratio--20% of the company today.
It's such a simple idea, but as far as I'm aware, this is the first time a user has been able to earn the equity of a company by just using the product. So obvious in hindsight, and something I hope others start to adopt as they march on their path to progressive decentralization--both in crypto and outside of the industry.
We have a lot more utility coming, things we'll share over the coming weeks, months, and year. As the Backpack community grows, we will decentralize the token, offering new things over time, some centralized like our equity offering, some decentralized as our product evolves. In the limit, I expect the token to represent more than anything a single company has to offer, but in the short run, it's the best we can do to show our long term commitment to our users.
I've said it before and I'll say it again. I can't promise anything. The only thing I can promise is commitment.
We go big or we go home--together, actually together.
solana seeker play is a real cook
> someone bought 100+ solana phones only for the $SKR airdrop
> $500 per phone & $50K total spend
> 750K SKR × 100 phones
= 75M $SKR
> at current prices (~$0.037),
that’s roughly $2.7m
> $50K to 2.7 millions
no leverage, just real conviction