I publicly pitched my tent with Printr and got clowned for it after the ecosystem imploded. By haters, expected. Even by people I thought I was cool with. That’s understandable and the nature of life for you.
When things don’t go as planned in CT, the scammer label gets thrown around instantly. That’s nothing new.
What makes it fair is that when FED failed to show leadership during the whole fiasco, I was one of the first to call him out and cuss him out. I was also one of the first to call him a scammer without hearing the full facts So if people want to throw that same label at me now, I can’t exactly be mad. Fair is fair.
Never been one to care about the haters and what they think about me but I owe my community and everyone who trusted my conviction enough to tail Printr an update. I know accountability is rare in this space but i share these in the spirit of transparency cos i do not take my community for granted. Every single person who apes a even as low a $1 of a coin cos of me deserves to know why it didnt perform as i expected.
Over the last few days, I’ve had multiple conversations with both current and former Printr management to understand what actually happened and why an ecosystem with so much momentum imploded within three days.
First, I am not here to defend FED or Printr. I will still cuss them out for their fuck ups and I still think it was cowardly for FED to step back when leadership was needed most. I still think he should never have moved into an advisory role at that moment. If you ever read this FED, i still think that was a lame move.
After spending the last 3 days speaking to everyone involved, I think the truth is more nuanced than most people think.
FED was naive, not malicious. Far from it.
He didn’t anticipate the speed of Printr’s growth and wanted to encourage as many communities as possible to build on the platform. Unfortunately, bad actors exploited that openness and leveraged his interactions to launch scams like FAX and ROTUS, which triggered distrust and caused cascading losses across the ecosystem.
I did my diligence on FED and found no history of rugs, no history of scams, and no evidence of malicious intent.
That is why when people started manufacturing “red flags” that did not exist on Printr & FED, I blocked and unfollowed many of them because it felt obvious they were speaking from bag protection and envy, not facts. I still cant wrap my head why the spawn of another lauchpad triggered a lot of people so much. Launchpad Competition is supposed to be better for the trenches but i guess its all envy and bag protection.
I still believe FED genuinely wanted the best for Printr. The sudden collapse clearly took a toll on him, and that pressure led to him stepping down. Still a weak move but hey, maybe i would have done same if i were under his shoes.
Second, the Bybit issue.
There has been a lot of noise around Printr removing “Bybit-backed” from its bio.
Here are the original announcements confirming the relationship with Bybit for those who have a brain and can read:
finance.yahoo.com/news/printr-ra…
theblock.co/post/375409/by…
x.com/BybitPlus/stat…
x.com/Bybit_Official…
Bybit has never denied its investment in Printr.
What I found interesting is that Bybit Venture Studio was formally incorporated in BVI on October 28, 2025, after the Printr investment: See proof here:
i-bvi.com/company/bybit-…
My understanding is this:
The original investment into Printr was made under Bybit’s former venture structure.
After October 28 2025, Bybit Venture Studio became its own separate legal entity and that seperation matters for legal and compliance reasons.
Post-FTX and Alameda Research, compliance standards became much stricter across the industry. It is now critical for venture arms and parent companies to maintain legal and operational independence to avoid governance conflicts or perceived influence. We saw how that panned out for FTX.
So when Printr launched and its growth became explosive, Bybit Legal stepped in and advised them to remove “Bybit-backed” from the bio to reinforce that separation. That does not mean support was withdrawn. It just reinforces that Bybit ventures studio which made the investment into Printr is a separate legal entity from Bybit Global. This is also usually for tax reasons. That legal boundaries had to be clarified.
Bybit Ventures is a relatively new studio and it gives its operators the freedom to run independently without direct influence over strategic decisions. Will come back to this shortly.
Third, the sudden TGE and scam accusations. I had my own reservations about this and also communicated with FED that i thought it was too early but i guess he had other plans. The plan was never to use the growing momentum to raise some money and vanish but to give the community an opportunity to own part of a great company. From everything I gathered, the sudden TGE was FED’s decision. and his has always been FEDs method of raising capital and this is why the $4.5m round Printr raised had a lo of retail participation. Its never about the money but about building a sense of ownership from the community. It was about following the Hyperliquid blueprint to have a lot of community cheerleaders early to grow with them. It didn't work out as planned and they paid the price for it. I'm glad everyone has been refunded.
And in my opinion, this was likely what accelerated Bybit distancing itself publicly. Not because support was withdrawn, but because Bybit did not want to be seen as endorsing every decision Printr made. Printr had over 10 investors but only Bybit had all the spotlight which made them a bit uncomfortable. The head of Bybit Venture studios still reinforced their support to Printr after the fiasco. In addition, after the FAX issue, trenchers sent threats to FED, calling Printr a scam and tagging Bybit for “endorsing scammers.
Bybit public distancing was a way to communicate clearly:
“We know these guys. We invested through our venture arm. But we do not control or endorse every business decision they make.” and that distinction matters.
Bybit Venture Studio is still a very new company and Printr was its first incubated project and is still in its earliest operational stage. Everyone is still trying to figure shit out. Printr isnt even up to a month old. Its normal to make mistakes.
Now to the part that matters most to me:
If you lost money tailing me into Printr, I am genuinely sorry. I round-tripped over $400k myself because my targets were much higher and i didn't sell my bags.
Anyone who tracks my wallet knows I sold only 0.4% out of the 2% I owned, purely to recover capital.
The rest of my Belief tokens were staked and are still staked.
My understanding after speaking with the belief team was that Belief was supposed to be the proof of concept. The coin that would prove Printr’s innovation worked. Printr also supported Belief charts with over $150k, but every buy kept getting sold into because of the FUD.
On top of that, some KOLs who received allocations dumped their free bags. I originally bought 1% of Belief because I liked the concept and wanted to support the ecosystem and after the Belief team saw my conviction, they reached out to me and matched my 1% buy with a free 1% allocation, which I staked. That brought my total holdings to 2%. Out of this 2%, I sold only 0.4%.
If anyone can prove I sold more than that, whether through side wallets or any other method, I will personally send you $50,000 USD.
Public challenge.
To every top sleuth in CT. This is your opportunity to publicly humilate me. Just bring proof and i give you $50k untop the public humilation you dish out to me.
I was hurt and lashed out because I round-tripped over $400k and genuinely felt like FED used me to bring mindshare to the launchpad.
But one thing I will never do is give delusional targets and dump on my followers while telling them to hold.
Never happened and im glad the few of you who have brains and can think for themselves are aware of this.
My trading style when i have insane targets has always been simple. I derisk my capital after a 4-5x and let the rest ride so that if it goes to zero, I don’t lose.
My total realised PnL from Belief was effectively zero, even after helping bagwork a 10x for everyone who tailed early.
Again, if anyone can prove I sold more than 0.4%, the $50k challenge stands.
I am sharing all this because I owe the very few sensible guys amongst you, the ones capable of critical thinking, an honest explanation. And also those who lost money by tailing me.
And after speaking directly with the Printr team, I now have more clarity and will continue supporting them.
Been speaking with Lenn and i left the conversation convinced they understand exactly where they went wrong and are actively trying to correct its mistakes and rebuild trust.
Lastly and more importantly (Please read this well) , they understand what the market wants and know the low-hanging fruit here is to spawn real runners. Again, read this slowly and carefully. I am indirectly telling you that all hands are on deck to spawn real runners on Printr to rebuild trust and restore belief.
They have learned hard lessons and are asking for one thing only: A chance to do it right this time. Just one more chance and if this is messed up, i will be their biggest FUDDER.
PS: Nobody from the Printr team asked me to post this.
They reached out to apologise for the entire mess and explained their plans to regain trust.
This post is entirely my decision.
I am still holding all my Printr ecosystem tokens and will continue supporting the ecosystem.
Fall down seven times. Get up eight.
We live to fight another day.
🫡
Sniper@snipeder
Spent the last 2 days having conversations with the present leadership of Printr to understand what the fuck happened. Will be putting out an official statement soon.
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