Coinbase Acquires Vector amid Insider Trading Allegations
Moonrock Capital founder Simon Dedic has accused Coinbase of orchestrating an insider-driven price pump ahead of its acquisition of Solana ecosystem trading platform Vector.fun. Posting on X, Dedic noted that the VECTOR token (TNSR) surged eightfold over a two-day market downturn, only to crash 40% following the public announcement. He also highlighted that the actual developers, the Tensor Foundation, remain outside the deal and appear poised to cash out undisclosed holdings, leaving TNSR holders with no equity benefit. Dedic called for on-chain tokens to be treated as equivalent to corporate equity, underscoring a severe misalignment between token value and shareholder interests.
Bearish
Allegations of insider trading and the subsequent 40% plunge in TNSR are likely to erode investor confidence, prompting sell-offs in the short term. The claim that Tensor Foundation may cash out undisclosed holdings while token buyers receive no equity benefit adds regulatory and reputational risk, further dampening market sentiment. Historically, similar controversies—such as regulatory probes into token allocations—have led to extended price weakness. In the long term, increased scrutiny on token-equity alignment could pressure projects to adopt clearer governance, but immediate trading activity is expected to remain cautious.