Stream Finance Launches Probe After Reporting $93M Loss

Share via:


Decentralized finance platform Stream Finance says it has paused deposits and withdrawals after an external fund manager overseeing its funds found a $93 million loss in its assets. 

The Stream Finance team said in an X post on Monday that the fund manager reported the loss on Sunday and the project has since hired lawyers from Perkins Coie to investigate the incident.

“We are actively withdrawing all liquid assets and expect this process to be completed in the near term,” it said. “We will provide periodic updates as additional information…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Stream Finance Launches Probe After Reporting $93M Loss


Decentralized finance platform Stream Finance says it has paused deposits and withdrawals after an external fund manager overseeing its funds found a $93 million loss in its assets. 

The Stream Finance team said in an X post on Monday that the fund manager reported the loss on Sunday and the project has since hired lawyers from Perkins Coie to investigate the incident.

“We are actively withdrawing all liquid assets and expect this process to be completed in the near term,” it said. “We will provide periodic updates as additional information…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

Y Combinator exec on Indian founders; FMCGs qcomm cost

Happy Tuesday! Y Combinator general partner Ankit Gupta...

OpenAI rolls out a fun ‘Your Year with ChatGPT’...

OpenAI has joined the Spotify Wrapped-style personalized year-end...

The ‘Epstein’s Suicide’ Video in the Latest DOJ Release...

An unlabeled video from the most recent release of...

Popular