Wintermute founder and CEO Evgeny Gaevoy claimed that the NEAR Foundation and Aurora allegedly rejected an offer to exchange USN stablecoins worth $11 million.
Gaevoy claimed in a Nov. 7 (Twitter) post that NEAR refused to fulfill its promise to sell $11.2 million worth of the stablecoin USN for the FTX property.
3. Summary
To reiterate, I see this situation very clearly:
– NF is committed to supporting USN and earmarking funds for it
-Aurora accepted redemption in August (it didn’t get it back until last week)
– NF decided they had the right to keep the $11 million to themselves instead of…—Wishful Cynic (@EvgenyGaevoy) November 7, 2023
Gaevoy said Wintermute is working with FTX to liquidate its assets for creditors, which includes selling $11.2 million worth of USN.
Gaevoy claimed that Wintermute executed the deal, providing $11 million to FTX creditors on the basis of being able to convert USN to USDT on a one-to-one basis.
When Wintermute submitted its redemption request, NEAR allegedly “refused to honor its commitments.” Gaevoy claims that after two and a half months, Wintermute still has not received any USDT.
Gaevoy claims Wintermute received 20% of the final offer of $11 million. Gaevoy said Wintermute will pursue “all legal avenues” against NEAR and Aurora, the organization responsible for allowing assets to be transferred from the Ethereum network to the NEAR protocol.
This is a developing story and more information will be added as it becomes available.
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