Addressing Concerns Around XRD Trading Activity.

03 Jul 2023, 06:46

Addressing Concerns Around XRD Trading Activity At RDX Works, our attention has been drawn to unusual trading patterns observed on the XRD token hours before the public notification of the revised Babylon upgrade timeline. We wish to assure our community that we take such anomalies very seriously. We promptly initiated a thorough review to ascertain whether any internal policies have been compromised. We maintain the strictest confidentiality around sensitive updates like the Babylon timeline alteration, sharing details only as when operational essential. The teams at RDX Works and in the Radix Foundation group are all bound by confidentiality agreements. Breaching such agreements would be deemed as gross misconduct. Further, we have a clear Insider Trading policy applicable to all members involved, including staff, contractors, and close affiliates. This policy has two main operational aspects. Firstly, all team members must affirm their understanding of the Insider Trading policy and sign a Personal Account Dealing (PAD) form, countersigned by their line manager and compliance officer, before either they or any of their close affiliate can trade XRD. Secondly, a closed trading period is instituted whenever a team member comes into the possession of price-sensitive, non-public information. This closed trading period remains in effect until the information is made public, regardless of a signed PAD. We are aware that a community member provided evidence suggesting they placed a limit order around the time of the market fluctuation. Our assessment finds no ties between this individual and any team member, and no reason to believe they had access to non-public details concerning the Babylon timeline update. We remain committed to maintaining the highest levels of integrity. We will continue to enforce and refine our policies to prevent potential insider trading or unauthorised information sharing. Rest assured, in the event of a policy breach, we would take immediate action against the implicated parties, adhering strictly to all necessary legal and regulatory proceedings. We appreciate your trust and understanding as we navigate through these developments.