A lot of people are pissed right now because they bought in to the hype when the whales were quietly making their way to the exits. They deluded themselves.
Did they?
If I count correctly, the publicly traded shares on bitfunder + havelock amounts to just 25k full shares, out of 400k total. Not sure how many are issued on 796. Regardless of whether the whales traded privately to exit, the bulk of the shares are still held privately by other whales.