daos.fun Founder Accuses Core Member of Insider Trading Profiting $6.65 Million

The founder of daos.fun, Shaw, has accused core member baoskee of insider trading, claiming that baoskee sold a large amount of ai16z tokens from the execution wallet after knowing that a16z requested a name change for the project to avoid trademark issues, and failed to implement the promised Snapshot voting mechanism. Baoskee's related wallets reportedly sold approximately 42.18 million ai16z tokens through multiple transactions, profiting around $6.655 million, with known costs of only about $3,863. In response, baoskee called Shaw "completely insane" and accused him of using the ai16z brand to rug multiple pump.fun projects, causing the token's market value to plummet from billions to six figures, and launching a second token rug first, resulting in user losses. Baoskee also stated that the Snapshot voting has actually been implemented, and that daos.fun has personally contributed and locked over $1 million in ai16z liquidity.

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