A notorious whistleblower has accused Mark Lamb, CEO of cryptocurrency exchange CoinFlex, of secretly lending unsecured loans to Roger Ver. On the other hand, the co-founder of A&T Capital has resigned and is facing investigations for misconduct.
Blaming the CEO of the cryptocurrency exchange CoinFLEX
FatManTerra, a notorious whistleblower on Twitter, in a series of controversial tweets accused Mark Lamb, CEO of cryptocurrency futures exchange CoinFLEX, of secretly lending unsecured loans to prominent crypto investor Roger Ver.
Allegedly, Lamb’s actions led to the bankruptcy of CoinFLEX and caused its users to lose their accounts. “Mark Lamb secretly lent unsecured loans to Roger Ver using client balances, bankrupting CoinFLEX and costing users’ accounts,” the whistleblower elaborated.
FatManTerra did not stop there, claiming that Lamb is now working with Su Zhu to create a new exchange that will trade on unsecured debt. ‘You can’t make this up,’ the user added. In another tweet, FatManTerra even went so far as to accuse Su Zhu and Kyle Davies, co-founders of bankrupt cryptocurrency investment firm Three Arrows Capital, of stealing and fleeing from their real-life friends. “Su Zhu and Kyle Davies stole from their IRL friends and ran away,” he tweeted in this regard.
The Twitter user, who is known for exposing the ugly behavior in the industry, ended his tweets with a warning to potential investors, stating that anyone who fell for Lamb’s newly announced OPNX initiative after learning all this “deserves it in a way”.
cryptocoin.com As we reported earlier this year, Su Zhu and Kyle Davies, the founders of Three Arrows Capital (3AC), made a bold move by launching a new cryptocurrency exchange Open Exchange (OPNX). This exchange will allow users to file claims against bankrupt cryptocurrency companies like Celsius, FTX, Voyager and 3AC itself. To make this venture possible, the founders of the defunct cryptocurrency hedge fund partnered with Mark Lamb, CEO of another cryptocurrency exchange, CoinFLEX.
Co-Founder of A&T Capital faces an investigation
Crypto venture fund A&T Capital has been in the news lately due to the resignation of its co-founder Yu Jun and subsequent investigation into his behavior at work. A Bloomberg report revealed that Jun was being investigated for personal issues. The investigation will be conducted by the firm’s other partner, Jasmine Zhang, in cooperation with the relevant authorities. In particular, Jun’s resignation and investigation came amid recent sexual harassment allegations against him.
On Sunday, A&T Capital released a statement in Chinese, saying it takes a zero-tolerance approach to any unethical or illegal behavior. While the firm stated that the defendant no longer represents A&T Capital, it promised to cooperate fully with the relevant investigative units and closely monitor the progress of the investigation.
Jun previously served as chief investment officer of the OKX crypto exchange and assisted Jack Ma’s fintech conglomerate in founding A&T Capital. In a surprising move, crypto firms in Hong Kong have started to receive unexpected support from China’s state banks. According to a report, Chinese banks have contacted crypto businesses directly for the past few months to provide banking services or make inquiries. Banks include Communications Bank, Bank of China, and Shanghai Pudong Development Bank.
“The push from Chinese lenders means a lot to us because it’s something you would never expect at this point, even around the world,” said Sung Min Cho, founder of Beoble. Contextually, it’s worth noting that Beoble is a messaging system provider for decentralized applications.
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