The domestic GPU leader Moore Threads has 'double lines' trending!
On December 5th, Moore Threads officially landed on the Sci-Tech Innovation Board, becoming the capital market's focus as the 'first domestic GPU stock.'
On the first day of listing, the company's stock price performed strongly, opening at 650 yuan/share, up 468.78% from the issue price of 114.28 yuan, with the total market value briefly exceeding 300 billion yuan, attracting widespread attention to the hardcore technology sector.
However, just two days later, with a social media interaction from OKX founder Xu Mingxing, an old case involving alleged debt issues with Moore Threads co-founder Li Feng re-entered the public eye.
Public information shows that in June 2018, Xu Mingxing publicly accused Li Feng of refusing to repay a loan of up to 1500 bitcoins (approximately 80 million yuan at the time's market price) in his WeChat Moments, stating that he was 'out of contact'.
Xu Mingxing published the relevant loan agreement and video evidence at that time, stating that he had filed lawsuits in courts in both China and the United States and applied for asset preservation.
According to the disclosed agreement at that time, the loan can be traced back to 2014, and after renegotiation, the repayment deadline was extended to December 31, 2017.
If estimated based on the current Bitcoin price, the value of this debt has exceeded $135 million, equivalent to 955 million yuan.
The Li Feng side previously responded through community channels, stating that the funds were actually Xu Mingxing's investment in a certain blockchain project he participated in, and due to the project not meeting expectations, the other party requested a return under the guise of 'loan'.
Both parties have their own claims, and this dispute has not yet had a publicly available judicial conclusion.
In addition, public information shows that Li Feng participated in a blockchain project named 'Malergo Coin' (later renamed 'Cao Ni Ma Coin', abbreviated as MGD) in 2017.
The project was promoted as the 'first modern performance art based on blockchain', and jointly initiated a crowdfunding campaign with several cryptocurrency figures, raising approximately 5000 Ethereum (ETH).
Later, the project sparked controversy due to issues related to its name, promotional methods, and the authenticity of team information, and had been interviewed by relevant departments.
It is worth noting that among the 186 senior management and core employees disclosed in Moore Threads' IPO announcement, there was no one named Li Feng.
However, some public reports still refer to him as one of the co-founders of the company.
Generally speaking, as a co-founder, he would obviously be listed in the prospectus, but currently, there is indeed no relevant information visible.
As of now, both Li Feng and Moore Threads have not responded to the aforementioned dispute.
