Bullet Points:
• Meld, a DeFi, non-custodial banking protocol, responded to allegations of insider trading, stating no such activity had taken place on its platform.
• The accusations stemmed from an on-chain analysis conducted by TapTools, which highlighted a series of large token sales.
• Meld confirmed it has no control over the actions of private sale token holders, denying suggestions that its staff had been involved or benefited from the token sales.

Meld, a decentralized finance (DeFi), non-custodial banking protocol, recently responded to allegations of insider trading. These accusations stemmed from an on-chain analysis conducted by TapTools, which highlighted a series of large token sales. TapTools had identified an address responsible for token sales worth 1.24 million ADA, or approximately $405,000 at today’s price. It was also revealed that the address had been credited monthly with between three and seven million MELD tokens since September 2022. Furthermore, TapTools had identified two associated addresses that sold but never bought MELD tokens. These token sales totaled just over one million ADA, or approximately $340,000 at today’s price.

In response, Meld stated that a “private sale token holder” owns the address in question, and they have no control over the actions of token holders. Moreover, the company denied any suggestions that its staff were involved or benefited from the token sales. Meld took to Twitter to address the rumors, noting that it had “reviewed and confirmed that no staff or parties related to Meld have been involved in any of the transactions highlighted.”

Meld further stated that it has “strong protocols and processes in place to ensure that all private sale token holders adhere to the protocol’s Terms of Sale and other applicable regulations.” The company also said it is “committed to creating a secure, transparent and compliant platform for all participants.”

In conclusion, Meld has denied any accusations of insider trading, confirming that it has no control over the actions of private sale token holders. The company has also assured users that it has strong protocols and processes in place to ensure that all token holders are compliant with its Terms of Sale, as well as other applicable regulations.