OX.FUN, a new cryptocurrencycurrency firm, just announced a $4 million investment round lead by Foresight Ventures. However, Foresight has now distanced itself from the fundraiser.
In a statement issued today, the venture capital firm stated unambiguously that it did not lead or participate in OX.FUN’s fundraising. Foresight acknowledged negotiations about a prospective token trade, but stated that the transaction is now off.
OX.FUN began in January with a gamified cryptocurrencycurrency exchange model. Through co-founder Su Zhu, it is linked to the defunct hedge firm Three Arrows Capital. The fresh misunderstanding surrounding its $4 million fundraiser raises further worries about the problematic cryptocurrency entrepreneur’s second business.
With OX.FUN’s assertions of Foresight’s involvement now challenged, it appears that the startup’s financing may not be as secure as originally stated last week.
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