Fairnomics

@zachxbt @RaveDAO @bitget @binance @Gate @heyibinance @GracyBitget Sad. Transparency needed.

Pump and dump activity for $RAVE originated on @bitget @binance @Gate Call to action for both @heyibinance @GracyBitget to do better and launch internal investigation offboarding the responsible actors. Offering up to $10K bounty of my personal funds for whistleblowers to come forward privately to share evidence about parties involved We cannot allow this blatant market manipulation by insiders controlling >90% RAVE support to further extract from retail investors.

We have observed heightened market volatility in $RAVE We encourage all users to remain mindful of the associated risks and to exercise caution, particularly when using leveraged positions

@MastrXYZ @RaveDAO Sad.

For anyone interested, here is the full story and my social-investigation with all names around $RAVE @ravedao: RaveDAO presents itself as a Web3 entertainment project mixing EDM culture, live events, NFT based attendance, crypto payments, DAO governance and philanthropy. According to RaveDAO’s own site and whitepaper, it began as a 200 person afterparty in November 2023, grew into events averaging around 3,000 attendees, gives attendees an NFT proof of participation, and sends 20% of event proceeds to community chosen causes. Its official material also says it has staged activations in Dubai, Brussels, Seoul, Singapore and Bangkok, issued 50,000+ NFT tickets, and reached 100,000+ participants across 5 countries in 2024 and 2025. So this is not the cleanest example of pure vaporware. The real world event side appears documented. The problem is the token market structure, not the mere existence of a brand or some actual events. Official materials even name specific philanthropy beneficiaries such as Tilganga Eye Center in Nepal and Nalanda West in Seattle. (Yes...) The project’s own site describes the Singapore Token2049 ENL1GHT activation as a 55,000 square foot event with 3,000+ attendees, 40+ VIP tables, 95% of those tables paid in crypto, and 20% of proceeds directed to charity. On the token side, the official whitepaper gives $RAVE a total supply of 1,000,000,000. It says about 23.03% entered circulation at the token generation event, while the rest follows a vesting schedule. The listed allocation is 31% ecosystem, 30% community, 20% team and co builders, 6% foundation and impact pool, 5% early supporters, 5% liquidity, and 3% initial airdrop. (If you add everything up and include the CEXs, around 98% of the supply is insider held, including the team, by the way.) Have fun... Most of those categories have a 12 month cliff and 36 month linear vesting. The project’s own contract page lists official contracts on Ethereum, BNB Smart Chain and Base, with the main Ethereum contract at 0x17205fab260a7a6383a81452cE6315A39370Db97. The official utility story is the usual big narrative package: governance, staking for organizers, artists and vendors, ticket and table payments, community rewards, ecosystem grants, plus buyback and burn from part of event profits. On paper, that is enough to sell a strong story. In practice, a strong story is not the same thing as honest price discovery. Timeline: -November 2023: RaveDAO says it started as a 200 person afterparty during a crypto conference. 2024: The project says it expanded into larger flagship events tied to major crypto and cultural gatherings, including Dubai Token2049, Brussels EthCC, Seoul Korea Blockchain Week, Singapore Token2049 and Bangkok DevCon. -October 3, 2025: RaveDAO’s own site lists its Singapore Token2049 event at Pasir Panjang Power Station. The project describes it as ENL1GHT, a 55,000 square foot activation during Token2049 and F1 week. -October 22 to 26, 2025: The official site lists a RaveDAO x 30th ADE activation in Amsterdam. -December 12, 2025: Bitget announced spot trading for RAVE/USDT. -December 14, 2025: Binance Futures launched the RAVEUSDT perpetual contract with up to 20x leverage. That mattered, because perps later became a major part of the price action and liquidation machine. 2026 roadmap: RaveDAO’s whitepaper says the next expansion targets are Hong Kong, Los Angeles and New York, with a goal of 100,000+ annual attendance. At the same time, the project’s Instagram promotions show a sold out Dim Sum Rave at Lin Heung Lau in Hong Kong for April 18, 2026. March 12 to April 18, 2026: CoinGecko shows RAVE moving from an all time low of $0.2063 on March 12 to an all time high of $27.88 on April 18. That is a move of more than 6,000% in roughly 1 month. CoinGecko also shows about 248,044,444 tokens in circulation and a market cap around $3.0 billion after the pullback. April 14 to 18, 2026: The squeeze became so extreme that Coindesk reported about $43 million in liquidations, putting RAVE behind only bitcoin and ether on that metric, while Bitget’s own market notes described a 24 hour move from roughly $7 to $18 with total futures liquidations around $43 million. April 18, 2026: ZachXBT publicly alleged that the RAVE pump and dump activity originated through Bitget, Binance and Gate, said insiders may have controlled more than 90% of RAVE liquidity, and offered up to $10,000 for information. To me, this is pure nonsense, because it was shady from the very beginning, and once Binance is involved... you already know. PANews and CryptoBriefing both summarized the allegation the same day. These are allegations, but they matter because they match the market structure red flags. Why the token screams red flags? Oh well.. The biggest red flag is concentration. blockchain data showed roughly 90% of RAVE supply in 3 wallets and more than 98% in the top 10. Another of my result showed nearly 90% of the 248 million supply sitting in 3 wallets. In a market with that kind of float concentration, price can be forced, liquidity can be staged, and traders can be farmed. The second red flag is derivatives. #Binance launched RAVE perps in December 2025, Bitget listed spot, and by mid April 2026 liquidations had already reached about $43 million. That means the token was not just being traded. It was being weaponized as a short squeeze instrument. How do people still arrive at the point of saying this needs to be investigated? It is obvious. And as always, no one will end up behind bars. The third red flag is the gap between story and valuation. Official materials talk about events, chapters, licensing, governance and philanthropy. But CoinGecko showed the token briefly reaching a multi billion dollar market cap and almost $13 billion fully diluted valuation on today, April 18, 2026. That is an enormous valuation for a project whose official growth thesis is still based on scaling events and community chapters. The fourth red flag is holder quality. Etherscan showed about 12,139 holders on April 18. In other words, for something briefly valued in the billions, the ownership base was still thin. That is exactly the kind of structure where whales and exchange venues can dominate price behaviour far more easily than the crowd. Current status as of today, April 18, 2026: CoinGecko showed RAVE at $11.78 after a 29.5% daily decline, with a 24 hour range of $12.10 to $27.88, about $336 million in 24 hour volume, around 250 million circulating tokens and a market cap just over $3.0 billion. The same page records the new all time high at $27.88 earlier on April 18. That is not normal organic price action. That is a battlefield. My factual read is simple: RaveDAO does appear to have a real event brand, documented live activations and an official roadmap. But the token structure and the April 2026 move look deeply unhealthy. Between the extreme wallet concentration, the thin holder base, the billion dollar valuation jump, the perp driven squeeze, and public allegations, $RAVE looks far less like organic adoption and far more like a high risk extraction game where the house has most of the chips. 1 honest line for CT from me: I am sorry people, but almost everything pumping lately is exactly 1 thing: a centralised scam. Real on chain buyers are gone. What remains are a few hardened long term holders and gamblers providing free liquidity to scammers.

@nikitabier That sounds $FAIR 🤝 CA: 0xbC780134E48b2DFa8eDAC84E7bbe38e5af9DBc9C

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@benvu @BattleBears Fair enough 👍

Day 1: Hey world! I created @BattleBears & worked on #Coraline. I love building systems that make people smile & make the world a fairer place. I will try my best to share my thoughts on 3 areas: ⭐️ IP Creation & Growth 🕹️ Game Design & Gamification 🌏 Tokenization of RWA Thank you @ericjackson for inspiring this series! #RisingDynasty

Today. We're excited for @coinbase @base System Update event today at 2pm PST! 🟦

@ChrisBHaynes Not FAIR

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@elonmusk Fair

Yeah

@cbventures Fair enough 👍

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@chrislevan FAIR

pitch me your company in 1 word.

@Dearme2_ Yes, he was a fair man 🫂

@DearS_o_n FAIR

@CoinMarketCap Am I fair?

Comment and I'll give you my honest reaction to your pfp.

@BaseHubHB @base @AerodromeFi @virtuals_io @jessepollak @zora @ribbita2012 @ResearchHub @KaitoAI @Roba_Labs @carv_official @BasedBrett $AERO baby 💪

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Inspired! Let's go!

Hello @base world 👋