In the latest crypto news: yet another crypto company is under investigation. The gentleman in the picture Yida Gao is potentially facing law trouble for what investigators describe as: funneling money from his firm to an offshore account that is solely under his name.
The before mentioned account is not documented under the firms corporate structure and seems to serve solely for the benefit of Gao. If this had all been just Gao's money, then there would be no problem. This isn't the case. Gao received capital from sophisticated investors such as Bill Ackerman in a sum of roughly 200 million dollars. He has since been valuated to only have $150 Million left in the firm (supposedly this has...