ACCORDING TO CRYPTO JOURNALIST KATE LRWIN,

THE SEC FILED A LAWSUIT APPROXIMSTELY THREE WEEKS AGO AGAINST CRYPTO

VENTURE FIRM SHIMA CAPITAL AND IT'S FOUNDER,

IDA GAO, ALLEGING A SCHEME TO DEFRAUD INVESTORS.

INTERNAL EMAILS REVEAL THAT GAO HAS ALREADY INFORMED THE FOUNDERS OF PORTFOLIO COMPANIES THAT SHE PLANS TO RESIGN AND GRADUALLY WIND DOWN THE FUND.

FOUNDED IN 2021, SHIMA CAPITAL CURRENTLY MANAGES APPROXIMATELY $200 MILLION IN ASSETS AND HAS INVESTED IN PROJECTS SUCH AS BERACHAIN,

MONAD AND PUDGY PENGUINS...!