Umami Finance CEO Dumps All Tokens After Week-Long Drama, Leaving Crypto Hopefuls Stranded

DeFi, short for decentralized finance, relies on smart contracts instead of intermediaries to provide users with financial services, such as lending and borrowing.

“CEO has dumped all of his tokens via his address here, 0x21dF3E7371A58eB0e2248F1362eB5fa01fC9B34F,” the developer said. The owner of the wallet address appears to have swapped UMAMI holdings for hundreds of thousands of dollars,The Abritrum-based UMAMI traded at $11 in European hours on Thursday down from Wednesday's high of $22. It is down over 90% from its record high of $162 in December 2021.

Umami operated similarly to a traditional company while offering a DeFi product. Its team members were known, its operating expenses were published each month publicly and it claimed to operate in “full compliance with jurisdictional rules in all of its markets,” as per technical documents.

UmamiFinance shauryamalwa Eh... never heard of this project.. But am I the only one thinking that this is probably a floor price signal?

UmamiFinance shauryamalwa Just buy Bitcoin, it has no CEO

UmamiFinance shauryamalwa Y’all need more padding right of your text for mobile

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