when

<ul> 
 <li>DWF Labs deposits 3M TOKEN to Gate.io amid RWA, Tokenfi trends.</li> 
 <li>Received 120M TOKEN at $0.031, now deposited 90.94M at $0.07.</li> 
</ul> 
DWF Labs finds itself under the spotlight once again. Recently, the firm made headlines after depositing a substantial 3 million TOKEN ($322,000) onto the Gate.io platform just 15 hours ago. 
This move comes after DWF Labs received 120 million TOKEN from the <a href="https://thenewscrypto.com/floki-dao-approves-15-25b-token-burn-proposal-with-99-84-positive-voting/" target="_blank" rel="noreferrer noopener">Floki</a> team back on November 1, 2023, when the price stood at $0.031 per TOKEN. Notably, the firm has since deposited approximately 90.94 million TOKEN to various centralized exchanges (CEXs) at an approximate value of $0.07 per TOKEN, marking a staggering 228% increase in value. 
Despite these maneuvers, DWF Labs still retains ownership of 29.67 million TOKEN, equivalent to $3.18 million, solidifying its position as the fifth-largest asset in their portfolio. 
However, these financial dealings occur against a backdrop of controversy. In the early days of the month, DWF Labs vehemently denied allegations of engaging in $300 million worth of wash trading on <a href="https://thenewscrypto.com/binance-unveils-funding-rate-arbitrage-bot-and-expands-spot-copy-trading-to-all-eligible-users/" target="_blank" rel="noreferrer noopener">Binance</a> throughout 2023. 
Responding to reports, the firm stated via its Telegram channel, “It has come to our attention that a recent article contains many allegations that we believe to be unfounded and that do not accurately represent our ethical business practices.” 
<h3 class="wp-block-heading" id="h-looking-back">Looking Back</h3> 
The allegations stem from a report by The Wall Street Journal, which claimed that Binance’s internal investigators, hired in 2022, had discovered evidence of rampant market manipulation on the exchange. These investigators purportedly recommended the removal of several hundred users for violating terms of use. 
Of particular note, the report accused DWF Labs of manipulating the price of the YGG token and at least six other tokens, facilitating over $300 million worth of wash trades in the process. However, Binance’s subsequent <a href="https://x.com/_RichardTeng/status/1791635586526400557" target="_blank" rel="noreferrer noopener">investigation</a> into these claims yielded insufficient evidence, leading to the dismissal of the head of the surveillance team and the rejection of&nbsp;the request to remove DWF Labs from the platform. 
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DWF Labs Deposits 3M TOKEN to Gate.io, What’s Their Strategy?

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