Manifold token craters 98% as founder ghosts frustrated supporters

Manifold Finance's FOLD token fell to an all-time low of 64 cents on November 8, 98% below its 2022 peak of $87, even as crypto markets rallied after Donald Trump's election as US president. The token's slide followed a disappointing response to Manifold's year-old liquid staking product, mevETH, and founder Sam Bacha has provided few updates on XGA, a forthcoming product meant to reverse the company's decline. Bacha's self-imposed deadlines passed without updates, and frustrated supporters in a 2,500-person Telegram chat questioned his whereabouts. Venture backers include P2P.org and Marshland Capital, which raised $2.5 million for the company.