/biz/ - Business & Finance

Let me get this straight – Chainlink Labs makes 6 erroneous transfers of LINK to Node Operators on 10/17/2023 totaling 723K LINK ($5.35M) and the Node Operators naturally sell this sudden windfall as income. When the error is discovered on 10/20/2023, Chainlink Labs inform the Node Operators who then have to rebuy the LINK they sold on the open market and return it to Chainlink Labs. Their rebuys cause a massive spike in the price of link from retail who FOMO in with no idea of the true reason for the sudden pump and this pump is still ongoing because retail hasn't figured it out yet. What happens next?

https://nitter.net/ejwallach/status/1716216771366031783

>>56435533
Because someone at Chainlink Labs accidentally gave away $5 million dollars to Node Operators who naturally sold it as income, but then had to buy back the LINK they'd sold on the open market and return to Chainlink Labs once the error was revealed. Their rebuys caused a FOMO spike which is still ongoing.

https://nitter.net/ejwallach/status/1716216771366031783

>>56424912
>ohnonononononono