Internet Computer
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anchored·5953hw…GCAJSummary
Internet Computer (ICP) is a layer-1 blockchain protocol developed by the DFINITY Foundation, designed to host decentralized applications and web services natively on a distributed compute network. The protocol launched publicly in May 2021 and attracted significant controversy after its token lost approximately 95% of its value within weeks of listing, coinciding with on-chain evidence of large-scale token transfers from addresses linked to project insiders and the foundation treasury. Multiple class-action lawsuits alleging unregistered securities sales and market manipulation were subsequently dismissed on procedural grounds rather than their merits. The protocol remains operational with ongoing development activity, a 2026 tokenomics reform (Mission 70), and a ~$1.7 billion market capitalization as of May 2026.
Connected Entities
4 entities · 60 linked investigations- Internet Computer→mentioned with→Ethereum(70%)
- Internet Computer→mentioned with→Bitcoin(70%)
- Internet Computer→mentioned with→Solana(65%)
- Ethereum→mentioned with→Bitcoin(60%)
- Solana→mentioned with→Ethereum(60%)
Timeline(13 events)
February 2017
DFINITY seed round closes: approximately CHF 3.9 million raised from ~370 participants at $0.03 per ICP token. This date later becomes legally significant as the start of the securities repose period.
Decrypt / Paul Weiss legal memo7 February 2018
DFINITY raises $61 million from Andreessen Horowitz and Polychain Capital in a Series A round.
CoinDesk29 August 2018
DFINITY raises additional $102 million in a follow-on round jointly led by Andreessen Horowitz and Polychain Capital, bringing total institutional funding to approximately $164 million.
TechCrunch10 May 2021
Internet Computer Genesis launch. ICP token begins trading on major exchanges, reaching highs above $700 per token and briefly entering the top 3 cryptocurrencies by market cap.
CoinDesk10 May 2021
Arkham Intelligence subsequently identifies approximately 18.9 million ICP tokens transferred from addresses attributed to DFINITY insiders and treasury to exchanges in the weeks following Genesis, worth approximately $3.6 billion at peak prices.
Arkham Intelligence30 June 2021
ICP token has lost approximately 95% of its peak value, falling from above $700 to approximately $28-30. The decline is steeper and faster than any comparable top-100 cryptocurrency in the period.
Crypto Briefing15 July 2021
First class-action lawsuit filed in California, naming DFINITY USA Research LLC, DFINITY Foundation, Dominic Williams, Andreessen Horowitz, and Polychain Capital as defendants, alleging unregistered securities sales and insider trading.
BenzingaAugust 2021
Second class-action lawsuit filed. Roche Freedman LLP files action claiming ICP is an unregistered security and that defendants engaged in market manipulation causing billions of dollars in investor losses.
Decrypt9 February 2023
Third Amended Class Action Complaint filed in Case No. 21-CIV-03843, continuing allegations of Securities Act violations, market manipulation, and insider selling.
Scott+Scott court filing10 February 2025
California Superior Court grants summary judgment in favor of DFINITY Foundation on state-law securities claim, finding DFINITY was not a statutory seller under Section 12(a)(1).
Cravath, Swaine & Moore25 March 2025
U.S. District Judge James Donato dismisses the primary federal class-action lawsuit as time-barred under the Securities Exchange Act's three-year statute of repose, ruling the filing came approximately 18 months too late. Underlying fraud claims not adjudicated on the merits. Plaintiffs granted until April 8 to amend.
Decrypt2026
DFINITY publishes Mission 70 whitepaper proposing to reduce annual ICP inflation from 9.72% to approximately 2.92-5.42% by end of 2026. The proposal passes NNS governance with approximately 53% support.
DFINITY Mission 70 Whitepaper12 May 2026
ICP trades at approximately $3.20-$3.34, with a market capitalization of approximately $1.76 billion, ranked approximately #52 by market cap — approximately 99.5% below its May 2021 all-time high.
CoinGeckoDecision Log
- slot 448957932 · hash 3RKL9VzZqNBZTU3KwQ36U3RTQUjKM7iR2RE9Nehpe2hS
- slot 426514370 · hash 8jTWixsffzfJFSasLgjfGnoRaaVPMs2Y16CVo3dfUT4T
- slot 426514368 · hash F537XmMfmrJarsAZAbbApjJ8P3W1j2gdmKrd4aza62Kc
- slot 419628807 · hash 74dYb2xvEDJ5PEqWv82HDm5TopsipHFkrpZLFfXpcJWy
- slot 419482343 · hash 6EF963rU32ci6YTzThRwNenm87eBsNLW8PK4h8BJmKBG
- slot 419482314 · hash EgwtdpSeWobBzr2RPKgapJQ1obbifpudy9L91EYREB6f
This investigation is cryptographically anchored to the Solana blockchain (6 decisions). 23 of 25 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/13/2026, 3:32:27 AM
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