SushiSwap creator “Chef Nomi” has returned all $14 million in ether (ETH) that he cashed out from the automated market maker last week, apologizing to the community for suddenly liquidating his SUSHI holdings.
- The pseudonymous individual transferred the 38,000 ETH back to the original developer fund wallet soon before 16:00 UTC today, according to Etherscan.
- Nomi announced the decision in a tweet, saying whatever reward he deserves for creating the project would be decided by the community:
Subscribe to Blockchain Bites, our daily update with the latest stories.
- The SushiSwap creator suddenly sold the tokens last weekend, prompting a 73% crash in the price of the SUSHI token and creating a massive backlash from the project’s supporters and accusations of an exit scam.
- This ultimately led to Nomi transferring ownership of the project to FTX CEO Sam Bankman-Fried.
- SushiSwap co-founder 0xMaki said he was disappointed in the liquidation, according to an interview with CoinDesk China.
- Following the news that the $14 million in ether had been returned, the price of SUSHI soared from $2.26 to $2.70, a rise of 16%.
- SushiSwap is a massively popular fork of DeFi project Uniswap that is still less than three weeks old.
- In another tweet Friday, Nomi said:
Read more: Fishy Business: What Happened to $1.2B DeFi Protocol SushiSwap Over the Weekend
Source: Read Full Article