Solana Treasury Firm Blames Sniper for Suspicious Meme Coin Trades

Core Viewpoint - DeFi Development Corp. launched its meme coin DisclaimerCoin (DONT) and faced insider trading allegations shortly after the launch due to suspicious trading activity by an early investor. Group 1: Launch Details - DeFi Development Corp. launched the DONT meme coin on Thursday, with a public announcement made at 8:30 a.m. ET [4][5] - The firm holds over 2.2 million SOL, valued at approximately $283 million [4] Group 2: Trading Activity - An early trader, identified as "8FziB," purchased $4,000 worth of DONT tokens shortly after the token's creation, acquiring around 29 billion tokens, which is nearly 7% of the total supply of 420 billion tokens [2][3] - The trader's investment quickly appreciated to over $1 million as the price surged following the firm's promotional activities [2][6] Group 3: Allegations of Insider Trading - Blockchain data indicated that the trader began purchasing DONT tokens about 25 minutes after the token was created, before the public announcement [3][5] - Observers noted potential connections between the trader's wallet and another Solana address linked to DeFi Development Corp.'s liquid staking token, raising suspicions of insider trading [7][8]