GeekCartel Co-Founder Raises Concerns Over X Protocol's Potential Risks
CryptoNewsTerminal Staff20 Aug, 2024
GeekCartel Co-Founder Raises Concerns Over X Protocol's Potential Risks
GeekCartel co-founder Jiayi has raised concerns regarding the potential risks associated with X Protocol, a crypto lending platform. Jiayi highlighted that X Protocol's predecessor, Finblox, faced bankruptcy due to its exposure to the collapsed hedge fund Three Arrows Capital (3AC). This raises questions about X Protocol's own risk management practices and its ability to safeguard user funds. Additionally, Jiayi questioned X Protocol's claims of securing investment from Dragonfly, a prominent venture capital firm. He urged further scrutiny into this matter, emphasizing the importance of transparency and accountability in the crypto industry. It remains to be seen how X Protocol will respond to these allegations and whether it can effectively mitigate the perceived risks.
