/biz/ - Business & Finance

>>55455341
>I don’t know even know what it means

Algorand foundation ran out of money after paying themselves huge salaries and traveling around the world to throw parties. They dumped the token to the pits of hell. They just sold the last of their runway ($50M) for exit liquidity to the only willing shady "partner" they could find (Dwf Labs) at ATL for a discount. Clearly they're not running a healthy operation and mismanaged funds.

Their other tokens are supposed to be allocated to ecosystem and community but they will probably take those for themselves too after they burn through this most recent sale.

>>55455341
>I don’t know even know what it means

Algorand foundation ran out of money after paying themselves huge salaries and traveling around the world to throw parties. They dumped the token to the pits of hell and there's no liquidity for them to sell on the open market. They just sold the last of their runway ($50M) to the only willing shady "partner" they could find (Dwf Labs) at ATL for a discount. Clearly they're not running a healthy operation and mismanaged funds.

Their other tokens are supposed to be allocated to ecosystem and community but they will probably take those for themselves too after they burn through this most recent sale.

How did Algorand fuck up so much?