GAIB’s official statement confirms no team or advisor token sales during TGE, pledging to repurchase tokens sold in breach of agreements to stabilize the market.
GAIB issued an official statement addressing unauthorized token sales by external institutions during its Token Generation Event (TGE), confirming that no team members or advisors sold any tokens. The violation involved approximately 5 million GAIB tokens sold externally, causing a 20% price drop. The company will initiate a buyback program to repurchase all GAIB tokens sold in breach of agreements. Earlier market activity included sell-offs by newly created wallets and transfers of $1.1 million in GAIB to Bybit and Bitget.