Polychain Capital sues Dex Maker and calls for his investment back

Polychain Capital sues Dex Maker and calls for his investment back

The crypto investment company Polychain Capital based in San Francisco sues a decentralized provider of cryptocurrency exchanges (Dex) because of an obviously walks of stock business.

dex-builder Shipyard software, also based in San Francisco,

In addition to its Dex offers, Shipyard markets a compliance tool for OFAC sanctions that enables "defi protocols and crypto exchanges to comply with regulations and to attract institutional investors".

More than a year after his investment, Polychain claims that his Shipyard software shares never received, as can be seen from a complaint recently submitted in Delaware, which was discovered by law360 . Polychain is now trying to "return and exhibit digital assets".

The exact assets that Polychain wants to return have not yet been announced. Blockworks turned to Polychain and the spokesman for the shipyard were not immediately available.

Not only Dex: Polychain is a crypto hedge fund veteran

Polychain, which was founded in 2016 by Olaf Carlson-Wee, the first employee of Coinbase, is a productive investor in the crypto area.

According to Crunchbase, the company has headed 80 financing rounds and supported a total of 158 blockchain startups, including compound (from which it has successfully dropped out) and the chopped blockchain bridge Nomad.

Last month, Polychain was instructed to pay the crypto hedge fund company Pantera Capital $ 5.5 million in fees and expenses. Pantera took part in Polychain in 2016.

A referee had confirmed the claim that Carlson-Wee had violated his duty of loyalty by redirecting "business opportunities" from Pantera Weg to Polychain, Bloomberg-Law registered.

Polychian's latest capital operation was with Vespene-energie Companies that convert landfill into the Bitcoin mining.

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The contribution "Polychain Capital sues Dex manufacturer, calls for his investment" is not a financial advice.