Synthetix Founder Warns of Market Manipulation by Market Makers

According to PANews, Kain Warwick, the founder of Synthetix, has expressed concerns about the practices of certain market makers. He highlighted that some market makers manipulate prices in low-liquidity markets, engage in arbitrage through loans and options, and sell discounted tokens before token generation events (TGE), only to quickly offload them after inflating prices. Warwick noted that Synthetix had previously been manipulated by DWF Labs, which, while providing short-term liquidity, was detrimental to the long-term development of the token. He urged investors to be cautious of market makers distributing large quantities of tokens and called for greater transparency in such activities.