Stream Finance's legal troubles highlight serious governance issues, potentially undermining investor confidence moving forward.
Stream Finance Faces Legal Action Over Misappropriation of Funds
Stream Finance's legal troubles highlight serious governance issues, potentially undermining investor confidence moving forward.
According to PANews, Stream Finance, an Ethereum-based yield protocol, reported a loss of $93 million in cryptocurrency due to an 'external fund manager' in early November, accounting for approximately 17% of the assets under management. On Monday, Stream's co-founder filed a lawsuit under the name Stream Trading Corp., accusing Georgia resident Ryan DeMattia of defaulting on a personal loan and misappropriating the funds to cover his personal losses. The lawsuit also accuses Florida resident Caleb McMeans of failing to fulfill the agreement signed in January when he took over the protocol and brand, requesting the court to enforce the agreement due to McMeans allegedly shirking responsibility.
#BinanceAlphaAlert #TrumpTariffs #WriteToEarnUpgrade #FOMCMeeting
