How crypto futures markets are feeding ‘scam coin’ insider pump and dumps

RAVE briefly crossed a $6.7 billion valuation on Apr. 18 before collapsing nearly 95% in hours. The market infrastructure surrounding the token, consisting of thin float, concentrated supply, and a live perpetual market, drove the scale of both the rally and the destruction. ZachXBT alleged that insiders controlled more than 90% of RAVE’s supply, with roughly 75% in a single wallet and approximately 10% more spread a…