According to @adriannewman21, some crypto projects and platforms are canceling token allocations when investors intend to hedge, trade OTC, or buy forwards, a move he criticizes as overly restrictive and contrary to the industry’s financial freedom ethos (source: @adriannewman21). According to @adriannewman21, this practice removes standard risk management options and creates execution risk for primary-allocation participants who plan to offset exposure via derivatives, OTC trades, or forward purchases (source: @adriannewman21). According to @adriannewman21, teams often justify cancellations by claiming they are giving investors free money, a premise he disputes as being wrong about 50% of the time, underscoring potential mispricing of allocation risk by issuers (source: @adriannewman21). According to @adriannewman21, these cancellations can directly impact traders’ ability to manage downside and liquidity via hedges or forwards, elevating allocation revocation risk that market participants must factor into execution plans (source: @adriannewman21).