Andrei Grachev has dedicated to carry his tokens for at least one yr.
The founding father of crypto market maker DWF Labs, Andrei Grachev, has unveiled what he claims to be his first-ever private funding in a crypto venture, backing gaming NFT market Promenade.
“I simply did my first funding in a crypto venture, alone, not by DWF,” wrote Grachev on Feb. 14, including, “I invested in Promenade with a dedication to carry cash for not less than 1 yr and help the venture correctly.”
“Not endorsement, NFA, DYOR, LFG!” mentioned Grachev.
DWF Labs is a controversial agency. In keeping with its web site, it holds belongings like Tron, Algorand, Fetch.ai, and CryptoGPT, amongst others. A latest CoinDesk article, nonetheless, described the corporate not as an funding agency however extra like an OTC desk – one which blurs the road between trades, investments, and market manipulation.
The corporate has additionally been accused of deploying and manipulating memecoins.
Launched in Sep. 2023, DWF Labs is the funding arm of Digital Wave Finance, a high-frequency buying and selling agency. On-chain knowledge platform Arkham Intelligence locations DWF Labs’s holdings at $50.7 million, unfold throughout dozens of tokens. Notably, Bitcoin will not be considered one of their holdings.
Promenade surged greater than 60% on the information, altering fingers for $12.24 on the time of writing. Its market cap tops $238M, as per Coingecko.
Promenade is an Ethereum-based multi-gaming NFT market that enables customers to commerce, borrow, and lease their digital belongings. It plans to quickly supply the digital equal of mortgages for traders excited by buying digital land.
