Address 0x4df (allegedly belongs to Nima Capital) sold 9M $SYN for 2.348M $USDC at $0.26 on average 4 hours ago, causing the price of $SYN to drop by nearly 25%:

• txid 1: 0x8982a3cd3b49d7d2068f72ee3a750e41015363f7b1f5863c12e3f2f9f294d86e
• txid 2: 0xc08cc875732a60c4e9684b53411f2e53ac9bf74a11b533eb105ee4aa3378591a
• address: 0x4dF9507aDe8764bc12ba89334d0d281484aC473f

Notably, Nima Capital:

• received 10M $SYN from Synapse Executor address 0x67F via address 0x450 on April 5 (152 days ago) (TXID here) in accordance with the proposal to advance Synapse’s liquidity model and reduce SYN emissions (refer to Synapse here for more details)
• sent 1M $SYN to Coinbase Custody wallet on April 17 (TXID here)
• has turned its Twitter (@NimaCapital) to private mode and rendered its website inaccessible after the recent $SYN sales
• Nima Capital (likely): 0x450F82319f940936F1f4F253B468c3e6E566Cdd5
• Synapse Executor address: 0x67F60b0891EBD842Ebe55E4CCcA1098d7Aac1A55

Fig 1. Nima Capital sold $9M $SYN for 2.348M $USDC at $0.26 just now.

Fig 2. The proposal to advance Synapse’s liquidity model and reduce SYN emissions.

Fig 3. Nima Capital is currently in private mode.