Accusations of governance manipulation and insider trading have rocked Across Protocol鈥檚 ACX token on Friday after well-followed X users alleged that core contributors front-ran a Binance listing and still control the supposedly decentralized DAO.
However, the team swiftly denied any such claims.
Across Protocol鈥檚 token, ACX, is down 10% amid the drama. The allegations, whether substantiated or not, appear to have shaken trader confidence, with ACX seeing a spike in trading volume alongside the price drop, suggesting market participants are reacting swiftly.
Across co-founder Hart Lambur has called the accusations 鈥渃ategorically untrue鈥 and denied all misdoings.
鈥淩isk Labs was granted ACX tokens from the DAO to build the Across protocol,鈥 he wrote in a Friday post. 鈥淭his is standard practice for DAOs! Since the first grant passed (in October 2023), we shipped Across v3 and grew the protocol massively.鈥
鈥淪ince the second grant passed (in October 2024), we have built Across v4 with some incredible new technology (to be announced very, very soon), and we鈥檝e hired brilliant new team members with these tokens (that vest over 4 years). We are using the ACX tokens exactly as intended,鈥 Lambur added.