A lot of Labs/Foundations/VCs used the DAT insanity to SELL large chunks of tokens. Now they are surprised the market is falling. What did they think their selling would do? Make prices go up? To make matters worse many sold supposedly locked tokens or “ecosystem funds” proving how farcical both were. So now the market has to discount the fact that hundreds of billions in remaining locked tokens are liquid and ecosystem funds are really slush funds. Many of these DATa also featured blatant conflicts of interest, appointing CEOs or VCs as board members who promised to hire/use the services of their own companies or PortCos. So now the market has to discount the fact that the DATa that holds billions in tokens will use some to irresponsibly enrich shady insiders. As I’ve said before and will keep saying till I’m blue in the face, raising hundreds of millions of dollars and issuing a gazillion tokens is the best predictor of failure. The DAT saga is just the latest data point.

And this is all before we learn that some DATs were just frauds and dumped their tokens already.