STBL Sell-Off Sparks Insider Trading Allegations and Market Panic

Core Insights - STBL has experienced a significant decline, losing 80% of its value from its peak, raising concerns about transparency and trust within the project [1][2] - The founding team faces accusations of selling millions of dollars' worth of tokens, leading to speculation about potential insider trading [3][4] - Despite the controversy, STBL plans to mint 100 million USST and launch a repurchase program by the end of October, aiming to restore investor confidence [1][7] Market Performance - STBL's value dropped from an all-time high of approximately $0.60 to a low of about $0.0797, before slightly recovering to $0.11478, with a current market cap near $58 million [2] - On-chain data indicates that five large addresses sold all their STBL holdings, realizing around $17 million in profits, which has raised suspicions of coordinated sell-offs [3][4] Community Reactions - The crypto community has expressed concerns over the actions of large traders, with some labeling them as "snipers," suggesting possible insider involvement [4][5] - STBL's CEO has defended the integrity of the trading activity, asserting that the accounts involved were "orchestrated and professional" [5][6] Company Statements - The STBL team has publicly denied any internal involvement in the sell-off, emphasizing the transparency of their treasury operations and that no changes have been made to allocations or vesting schedules [6] - The team is focused on building the protocol and community adoption, stating that tokens vesting this quarter will not be minted or enter circulation [6]