Crypto Firm Accused Of Collusion With Chinese Communist Party• July 12, 2023 12:22 pm • Comments
It’s no secret that the U.S. government has escalated its war on cryptocurrencies and blockchain technology recently.
The latest development in this disturbing trend comes in the form of a letter penned by multiple Congressmen and Senators including Byron Donalds, Tommy Tuberville, and Ralph Norman.
According to that letter, Prometheum’s CEO Aaron Kaplan lied to Congress regarding his firm’s relationship with Chinese partners.
Congress members allege that Prometheum received considerable help in the form of funding, research, and development from Chinese partnerships, and those linked to the Chinese Communist Party, despite claiming otherwise.
You can read the letter in its entirety below:
Daily Hodl reports:
However, the congressmen say that Prometheum’s audited financial statements and filings with the U.S. Securities and Exchange Commission (SEC) in 2020 and 2021 “indicate Prometheum continued to rely on its partnership” with Shanghai Wanxiang Blockchain and its subsidiary Hashkey Digital Asset Group, who, they allege, have ties to the CCP.
CoinDesk provided this statement from a Prometheum spokesperson:
“During testimony, Aaron Kaplan, Co-CEO and Co-Founder of Prometheum, never stated that the joint development of its blockchain trading system with Wanxiang ended in December 2019,” the statement said.
“We determined in early 2020 the co-development of technology was not viable and in order to avoid corporate and litigation risk, sought to create value from our relationship.
In its written testimony, Prometheum clearly states that joint development with Wanxiang and its affiliates formally ended in October 2021.”
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