Yes. That is the scam with them involved. We have seen these co-ordinated pump and dump schemes before with Coinbase Ventures, a16z, etc with other tokens like ApeCoin (APE), Internet Computer (ICP), ENS, Compound (COMP) and DeSO (DESO) [0] [1] getting listed immediately after dumping on retail and cashing out.
Also see here: https://startupsandecon.substack.com/p/you-dont-own-web3-a-c...
The web3 crypto VC playbook is that they pretend to care about it up to the minute they use retail and the exchanges as a liquidity event to exit and make a killing out of them.
It is a rigged game which they can never lose. All thanks to and started by the Ethereum ecosystem since the first ICO.