Meteora Reports $1.5 Million OTC Scam Loss During MET Buybacks

The project said the loss occurred during over-the-counter trading (direct private token trades) tied to MET buybacks, while first-quarter cash flow reached $18.3 million and treasury holdings ended at $32.8 million.

26d ago

Summary

Meteora said it incurred a $1.5 million loss from an OTC scam during MET buybacks. At the same time, the project reported first-quarter cash flow of $18.3 million and said its treasury closed the quarter at $32.8 million. The figures indicate that, despite the trading-related loss, Meteora maintained positive operating cash generation and a sizeable treasury position during the period.

Terms & Concepts

OTC trading: Over-the-counter trading is the direct buying or selling of assets between parties outside a public exchange order book.
Token buyback: A buyback is when a project repurchases its own token from the market or private sellers, often to manage supply or treasury strategy.
Treasury: In crypto, a treasury is the pool of assets held by a project to fund operations, incentives, and strategic initiatives.