Yellow token, a project backed by Ripple’s co-founder, faces strong backlash from the XRP community following its launch
Yellow, a new blockchain project that previously received a personal investment from Ripple co-founder Chris Larsen, sparked sharp criticism from the XRP community after its token launch. On-chain data shows that wallets associated with the project team dumped approximately 20,000 XRP worth of tokens shortly after the launch. Project representative Burak Cem explained that these transactions were "team wallet arbitrage" aimed at reducing premiums and leveling out fee rates. However, this operation was met with skepticism from the community, with critics arguing that the move amounted to "liquidity extraction" at the expense of early retail liquidity. As of now, the project has not issued any further official response.
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