Moonrock Capital Founder: Acquired by Coinbase | _2024111120230_ | Suspected insider trading, TNSR surged 8 times in two days before plummeting 40%
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TL;DR
Moonrock Capital founder alleges insider manipulation in Coinbase's Vector.fun acquisition, noting TNSR surged 8x before dropping 40% on announcement day. He claims Tensor developers will cash out while TNSR holders get nothing, highlighting equity-token misalignment.
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DeFiLiquid Staking Derivativesinsider tradingCoinbase acquisitionTNSR tokenVector.funcryptocurrency manipulation
According to Mars Finance, Simon Dedic, founder of Moonrock Capital, posted on X that there were signs of insider manipulation in Coinbase's acquisition of Vector.fun. He noted that TNSR surged approximately eightfold in two days while the overall market weakened, only to fall back by about 40% on the day the news was announced, with no apparent attempt to conceal the activity by the relevant accounts. He believes that Vector.fun's developer, Tensor, and its token appear to remain independent of the acquisition, and infers that Tensor will cash out a large, undisclosed sum, while TNSR holders will "get nothing," further highlighting the misalignment between equity and tokens.