Phoenix Veritas Foundation
Role at the time: Project team communicating through the Phoenix Veritas Foundation Medium account
"Everyone had the same information, at the same time."
The project team denied preferential information for insiders, attributed early volatility to thin liquidity and automated buyers, and described liquidity measures and a planned token burn.
- First noted
- September 10, 2026
- Published here
- September 10, 2026
Why we used this label
The statement contests claims of an insider-favored launch and offers an alternative account of the volatility.
Context
Before the quotation
The statement followed the launch and public criticism of the token's price movements.
After the quotation
Publication time is recorded from the Medium page's publishedTime metadata. Biden linked the statement about 21 minutes later. The foundation is distinct from the company identified by the project as the technical token issuer. Operational, audit, regulatory, and market assertions in the statement are not independently verified.
Sources
The project team's explanation blames initial liquidity and automated buyers, denies preferential information for insiders, and describes liquidity support and a planned token burn. These are the team's claims, not verified financial, regulatory, audit, or market findings. Publication time comes from the page's publishedTime metadata. Biden shared it at 01:02:20 UTC.
Biden says the foundation's X account is suspended, describes efforts to restore it, and links the team's Medium launch update. No reason for suspension was independently confirmed from X.