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Ethena Labs Under Fire For Alleged Funds Misuse, ENA Price Crashes 6%

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Summary
Nutrition label

68% Informative

Synthetic dollar protocol Ethena Labs under scrutiny for allegedly misusing 180 million ENA tokens on a crypto-farming event.

The team reportedly staked 25% of the total ENA (SENA) in its ongoing Season 3 farming event, which could dilute rewards for regular participants and present ethical considerations.

The price of a token went down by 6.01% at the time of writing, hovering around $0.33 .

EthenA Labs: There Was No Insider Trading, There was no locked team or investor tokens are staked.

VR Score

50

Informative language

38

Neutral language

43

Article tone

formal

Language

English

Language complexity

61

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Time-value

short-lived

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