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"DEX Suspends Two Amid Insider Trading Probe in AI Token Launch"

Coin WorldTuesday, Jan 28, 2025 1:55 pm ET

1min read

Aerodrome Finance, a decentralized exchange (DEX) operating on Coinbase’s Base blockchain, has suspended two contributors following an internal investigation into suspected insider trading during the issuance process of the VVV token. The platform, which specializes in automated market making and liquidity incentives, flagged irregular trading patterns shortly after Venice, an Erik Voorhees-backed AI startup, debuted its token on January 27.

The suspicious trading activity was detected within 30 minutes of the token's launch, triggering an internal investigation. Aerodrome Finance emphasized its commitment to ethical standards, noting that the investigation remains ongoing and that further action may be taken. The contributors were suspended within three hours of the token’s launch.

Venice launched the VVV token as part of its broader strategy to integrate artificial intelligence with blockchain technology. By staking VVV tokens, users gain access to Venice’s API for generative text, images, and code, aiming to replace traditional pay-per-request systems by granting stakers a share of the platform’s expanding computational capacity.

The decision to suspend the contributors came after an internal investigation was initiated just 30 minutes after suspicious trading activity was detected. Aerodrome Finance is a decentralized exchange operating on Coinbase’s Base blockchain, specializing in automated market making and liquidity incentives. The platform flagged irregular trading patterns shortly after Venice, an Erik Voorhees-backed AI startup, debuted its token on January 27.

The contributors were suspended within three hours of the token’s launch. Aerodrome Finance emphasized its commitment to ethical standards, noting that the investigation remains ongoing and that further action may be taken. The platform, which specializes in automated market making and liquidity incentives, flagged irregular trading patterns shortly after Venice, an Erik Voorhees-backed AI startup, debuted its token on January 27.

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