DWF Labs co-founder Andrei Grachev has responded to recent market speculation surrounding DEXE trades, saying the transactions can be checked against records held by centralized exchanges. In his account, DWF Labs built a large DEXE position in 2024, sold part of it for profit in 2025, and bought heavily again around Oct. 10. He also said the firm hedged profits in the first half of 2026. According to Grachev, that hedge later ran into trouble when funding rates turned negative, forcing the closure of short positions. He added that DWF Labs then sold part of its DEXE spot holdings to raise cash reserves. Grachev said all of the buying and selling was executed through centralized exchanges, which hold the relevant account information. He also criticized some paid KOLs for spreading what he described as misleading information about the trades.
ChainCatcher reported that DWF Labs co-founder Andrei Grachev responded to recent market speculation over DEXE trades, saying the transactions can be verified through records held by centralized exchanges.
Grachev outlined DWF Labs' DEXE trading sequence as follows: heavy buying in 2024; partial profit-taking in 2025; another round of large DEXE purchases around Oct. 10; hedging profits in the first half of 2026; and, after funding rates turned negative, being forced to close short positions and selling part of its DEXE spot holdings to increase cash reserves.
He said all buy and sell operations were conducted through centralized exchanges, with the trading venues holding the relevant account information. Grachev also criticized some paid KOLs for circulating what he called misleading information.
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