According to blockchain activity, a portion of the freshly minted tokens has already been moved to Bybit, a major crypto exchange. However, the LeverFi team has not yet issued any official explanation regarding the timing or intent behind the transfers.

The sudden expansion of the token supply has drawn scrutiny, especially as it follows Binance’s decision to delist LEVER on July 4. The proximity of these two events has fueled speculation and raised red flags within the crypto community, with some observers questioning the rationale behind such a massive issuance days before a major liquidity channel is closed.

This token mint appears to be linked to LeverFi’s previously announced plans for its “LeverAI staking incentive program,” introduced in mid-May. At that time, the project disclosed intentions to raise its total token cap from 35 billion to over 55.7 billion LEVER. Today’s mint suggests those plans are now being implemented — though without the level of communication some investors expected.

LeverFi describes its mission as creating infrastructure for AI-powered decentralized applications (deAI) to operate across blockchain networks securely. Yet, despite its ambition, the project’s native token has seen a steep price collapse — currently trading at around $0.0003124, down over 94% from its 2022 peak.

As concerns over token dilution and exchange support grow, LeverFi’s next steps may determine whether the project can regain investor confidence or continues its downward spiral.

The post This Altcoin Sparks Controversy After Minting Billions of Tokens Ahead of Binance Exit appeared first on Coindoo.

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Filed under: Bitcoin - @ June 29, 2025 10:21 pm