<\/p>\n
Andrei Grachev has committed to hold his tokens for a minimum of one year.<\/p>\n
The founder of crypto market maker DWF Labs<\/a>, Andrei Grachev, has unveiled what he claims to be his first-ever personal investment in a crypto project, backing gaming NFT marketplace Prom.<\/p>\n \u201cI just did my first investment in a crypto project, on my own, not by DWF,\u201d wrote<\/a> Grachev on Feb. 14, adding, \u201cI invested in Prom with a commitment to hold coins for at least 1 year and support the project properly.\u201d<\/p>\n \u201cNot endorsement, NFA, DYOR, LFG!\u201d said Grachev.<\/p>\n DWF Labs is a controversial firm. According to its website, it holds assets like Tron, Algorand, Fetch.ai, and CryptoGPT, among others. A recent CoinDesk article<\/a>, however, described the company not as an investment firm but more like an OTC desk \u2013 one that blurs the line between trades, investments, and market manipulation.<\/p>\n <\/p>\n The company has also been accused<\/a> of deploying and manipulating memecoins<\/a>.<\/p>\n Launched in Sep. 2023, DWF Labs is the investment arm of Digital Wave Finance, a high-frequency trading firm. On-chain data platform Arkham Intelligence places<\/a> DWF Labs\u2019s holdings at $50.7 million, spread across dozens of tokens. Notably, Bitcoin<\/a> is not one of their holdings.<\/p>\n Prom surged more than 60% on the news, changing hands for $12.24 at the time of writing. Its market cap tops $238M, as per Coingecko.<\/p>\n Prom is an Ethereum<\/a>-based multi-gaming NFT<\/a> marketplace that allows users to trade, borrow, and rent their digital assets. It plans to soon offer the digital equivalent of mortgages for investors interested in purchasing digital land.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":" Andrei Grachev has committed to hold his tokens for a minimum of one year. The founder of crypto market maker DWF Labs, Andrei Grachev, has unveiled what he claims to be his first-ever personal investment in a crypto project, backing gaming NFT marketplace Prom. \u201cI just did my first investment in a crypto project, on […]<\/p>\n","protected":false},"author":2,"featured_media":247522,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[274,273,272,244,266,271,268,270,269,267],"class_list":["post-247521","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-de-fi","tag-crypto-finance","tag-decentralized-finance","tag-liquidity","tag-metamask","tag-pancake","tag-slippage","tag-sushiswap","tag-tronlink","tag-trust-wallet","tag-uniswap"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/247521","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=247521"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/247521\/revisions"}],"predecessor-version":[{"id":247524,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/247521\/revisions\/247524"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/247522"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=247521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=247521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=247521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}