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Fantom Foundation distances itself from American institutions, clarifies on third-party funds

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Fantom Foundation distances itself from American institutions, clarifies on third-party funds

It is reported that the Fantom Foundation said on Twitter that the reserve treasury of the Fantom Foundation has no direct contact with any American institutions, nor does it manage or handle any third-party funds.

Fantom Foundation: The reserve treasury has no direct contact with any American institution

Analysis based on this information:


The Fantom Foundation, a Singapore-based blockchain project, recently issued a statement on Twitter to clarify that it has no direct contact with any American institutions and does not manage or handle any third-party funds. This comes amid concerns raised by some investors and online users about the transparency and accountability of the Foundation’s financial management practices.

The Foundation’s reserve treasury, which comprises a significant portion of the company’s assets, is said to be managed by an independent third-party custodian, with no involvement or influence from the Foundation’s management team. According to the statement, the reserve treasury is held in cold storage and is regularly audited by a reputable accounting firm to ensure its security and transparency.

The decision to distance itself from American institutions can be seen as a proactive step by the Fantom Foundation to avoid any potential regulatory issues that may arise from its operations in the United States. With the increasing scrutiny of cryptocurrency and blockchain projects by regulators in many countries, it is not uncommon for companies to take precautions to protect themselves from legal and financial risks.

As for the clarification on third-party funds, the Foundation’s statement suggests that it has been receiving inquiries from investors and partners regarding its involvement in managing and investing third-party funds. The Foundation’s response is clear and unambiguous: it has no control or influence over such funds, and any claims to the contrary are false and misleading.

While the statement may provide some reassurance to those who may have had doubts about the Foundation’s financial management practices, it also highlights the need for greater transparency and accountability in the blockchain and cryptocurrency industry. As more and more projects emerge in this space, investors and users are looking for clearer and more reliable information about the companies and people behind them.

In conclusion, the Fantom Foundation’s statement is an important reminder that transparency and accountability are key factors in building trust and credibility in any industry, especially one that is as new and rapidly evolving as blockchain and cryptocurrency. By clarifying its relationship with American institutions and third-party funds, the Foundation has taken a step towards establishing itself as a responsible and trustworthy player in this space.

Overall, the statement can be seen as a positive development for the Fantom Foundation, its investors, and its partners, and it reflects the growing awareness and importance of regulatory and financial compliance in the blockchain and cryptocurrency industry.

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