Aqua1 Foundation officially denied any connection to the Chinese market maker Web3Port amid recent allegations regarding its co-founder, Dave Lee.
Aqua1's Statement on Independence
Aqua1 Foundation confirmed its independence from any unrelated organizations, dismissing circulating rumors. In an official post on its X account, the fund stated that it has no equity, financial, or operational ties to any unrelated entities. 'Aqua1 operates independently and has no ties to unrelated parties,' asserted representatives of the fund.
Speculations of Connection to Web3Port
Recent accusations involved potential links between co-founder Dave Lee and David Li, a former employee of Web3Port, who was accused of market manipulation earlier this year. Journalist Jacob Silverman proposed that both individuals may be the same person, citing digital footprints that suggest a connection between Aqua1 and Web3Port, as well as similarities in education and career backgrounds.
Aqua1's Investment in WLFI
Amidst the controversies, Aqua1 recently invested $100 million in WLFI tokens from World Liberty Financial. The fund also noted that it has several institutional partners in the Middle East and is actively working with them on various initiatives, though further details are currently undisclosable due to regulatory procedures.
The situation surrounding Aqua1 and its alleged ties to Web3Port continues to draw attention, despite the denials. The recent investment in WLFI highlights the importance of developments in the crypto market.
