Wintermute claims NEAR backed out of $11M stablecoin redemption deal
Wintermute founder and CEO Evgeny Gaevoy says the Near Foundation reneged on an offer to convert $11m million worth of its stablecoin. The NEAR Foundation and Aurora allegedly reneged on an offer to convert $11 million worth of USN stablecoin s, Wintermute founder and CEO Evgeny Gaevoy has claimed. In a Nov. 7 X (Twitter) post, Gaevoy claimed NEAR refused to honor a commitment to facilitate the sale of $11.2 million worth of its stablecoin USN for the FTX estate. 3. Summary To reiterate, I see this situation very clearly as: - NF committed to backstop USN and earmarked money for it - Aurora accepted the redemption in August (and only last week backtracked on it) - NF decided they have the power to keep the $11M to themselves instead of… — wishful cynic (@EvgenyGaevoy) November 7, 2023 Gaevoy said Wintermute was working with FTX to liquidate its assets for creditors which included the sale of $11.2 million worth of USN. Gaevoy claimed Wintermute executed the transaction — whi...