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Venice AI’s VVV Token Drops 50% in Value on Insider Trading Allegations, Aerodrome Finance Suspends Employees

Venice AI’s newly launched VVV token has suffered a major loss of value after allegations of insider trading, losing 50 percent of its value. VVV, one of the rare tokens listed on Coinbase, rose rapidly after its launch but suffered a serious decline due to the scandal.

Venice AI launched on the Base network on January 27, allowing users to access the China-based DeepSeek platform by adding a layer of privacy. The platform also promises to provide a private and uncensored AI experience, allowing users to benefit from this service without per-request fees. Thanks to these attractive features, the project’s native token VVV, which attracted great attention, rose from its initial market value of $20 million to $1 billion in just one day. In addition, its listing on Coinbase on its first day was considered a great success. However, after this rapid rise, allegations of insider trading emerged and the token lost value rapidly.

Did Aerodrome Finance Employees Make Insider Purchases?

Two developers from Venice AI’s launch partner Aerodrome Finance allegedly made large purchases of the VVV token before it was released to the public. They reportedly increased their $50,000 investment to $1 million in just an hour, sparking outrage in the community and fueling discussions about insider trading.

Aerodrome Finance announced that they discovered the transactions within 30 minutes thanks to their internal audit system and that two employees were dismissed within three hours. The statement said, “These transactions were quickly detected thanks to our internal audit system and an investigation was immediately launched. Two employees were dismissed within three hours. The investigation is ongoing and all necessary steps will be taken.”

Venice AI founder Erik Voorhees appreciated Aerodrome’s transparent attitude and said,