coin-img-ETHETH+1.80%coin-img-BTCBTC+1.37%coin-img-SOLSOL+2.69%coin-img-BPBP+2.06%coin-img-SAIMSAIM+0.00%coin-img-AGQAGQ+74.65%coin-img-LUCKLUCK-33.72%coin-img-XRPXRP+0.57%coin-img-ETHETH+1.80%coin-img-BTCBTC+1.37%coin-img-SOLSOL+2.69%coin-img-BPBP+2.06%coin-img-SAIMSAIM+0.00%coin-img-AGQAGQ+74.65%coin-img-LUCKLUCK-33.72%coin-img-XRPXRP+0.57%coin-img-ETHETH+1.80%coin-img-BTCBTC+1.37%coin-img-SOLSOL+2.69%coin-img-BPBP+2.06%coin-img-SAIMSAIM+0.00%coin-img-AGQAGQ+74.65%coin-img-LUCKLUCK-33.72%coin-img-XRPXRP+0.57%coin-img-ETHETH+1.80%coin-img-BTCBTC+1.37%coin-img-SOLSOL+2.69%coin-img-BPBP+2.06%coin-img-SAIMSAIM+0.00%coin-img-AGQAGQ+74.65%coin-img-LUCKLUCK-33.72%coin-img-XRPXRP+0.57%

Backpack Probes Possible BP Price Manipulation Linked to Prediction-Market Wager

Odaily Planet Daily reported that Backpack said on X that earlier today a trader on Polymarket held a sizable open position betting BP's fully diluted valuation (FDV) would top $200 million one day after the token generation event (TGE). With the settlement window nearing, BP is trading around $0.19, fueling speculation that some traders have been purchasing large amounts of BP tokens to lift the price above $0.20 and secure the Polymarket payout. Backpack said it has opened an investigation and has confirmed the traders involved are not Backpack employees, directors, executives, or advisors, and have no affiliation with the company. The firm reiterated its zero-tolerance stance on any form of insider trading.
BP
BP+2.06%
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