Neo Foundation denies involvement in recent NEO sell-off

Layer-1 blockchain network Neo's Foundation clarified on X that the recent 35% drop in NEO’s price was not caused by token sales from the foundation, its founders or Neo Global Development. The team traced about 9.25 million NEO — roughly 13% of total supply — transferred to Binance Exchange by a legacy wallet, but emphasized there’s no confirmed link between the transfers and the price decline. The foundation said it is working with exchanges and analytics firms to investigate further.