Andrei Grachev, the co-founder of the global digital asset market maker DWF Labs, has publicly addressed recent market speculation regarding the firm's transactions involving the DEXE token. Responding to allegations of massive selling, Grachev detailed the firm's multi-year trading history, clarifying that recent movements were part of a coordinated risk management strategy rather than a simple exit. The executive emphasized that all activities are verifiable through centralized exchange (CEX) records, countering claims spread by certain market influencers.
A Chronology of DEXE Acquisitions and Hedging
To provide transparency, Grachev outlined a timeline of DWF Labs' involvement with the DEXE protocol, a decentralized social trading platform. According to the co-founder, the firm’s strategy followed a specific cycle of accumulation and profit-taking over several fiscal years:
- Initial large-scale purchase of DEXE occurred throughout 2024.
- Partial profit-taking through spot sales was conducted in 2025.
- A second significant accumulation phase took place around October 10, 2025.
- Hedging of gains was implemented during the first half of 2026 to protect the portfolio against potential market volatility.
Liquidation and Cash Reserve Management
The recent market activity that triggered the rumors was linked to shifts in funding rates on derivative platforms. Grachev explained that DWF Labs was forced to liquidate short positions used for hedging when funding rates turned negative, making the cost of maintaining the hedge prohibitive. To balance the books and increase cash reserves, the firm simultaneously sold a portion of its spot DEXE holdings. These operations were executed exclusively on centralized exchanges, which Grachev noted possess the necessary account data to verify the legitimacy of the trades.
All buying and selling operations were conducted through centralized exchanges, and the trading platforms possess relevant account information.
The clarification serves as a rebuttal to "misleading information" allegedly propagated by paid Key Opinion Leaders (KOLs) within the crypto ecosystem. By providing a detailed breakdown of their hedging and liquidity management, DWF Labs aims to maintain market confidence in its operational transparency. As of August 4, 2026, the firm maintains that its actions were standard institutional procedures designed to optimize capital efficiency rather than a lack of conviction in the underlying blockchain project.
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