Founder of SushiSwap returned all 38,000 ETH received


Chef Nomi, the mysterious founder of DeFi protocol SushiSwap, announced today that he has returned 38,000 ETH to the project.

This name, which was previously behind SushiSwap, has recently disposed of millions of SUSHI tokens, which it controlled as “developer funds”, for approximately 38 thousand ETH. While this incident created a great controversy, allegations of exit fraud emerged, and the value of SUSHI fell by more than 75 percent. Later, the creator of the project left the control to Sam Bankman Fried, CEO of crypto derivatives giant FTX.

The creator of SushiSwap, who posted a statement on Twitter today, said, “You apologize to everyone I am in trouble. I was emotional, greedy, scared. I made bad decisions under pressure, and those decisions hurt everyone. I’m sorry that I could not meet your expectations. ” used the expressions.

Chef Nomi then shared a transfer, “I returned the entire $ 14 million of ETH to the SushiSwap treasury.” said. He also stated that he will continue to make improvements for the project in the background but will not have any control. Wishing SushiSwap to continue its development, the founder concluded, “The success of SushiSwap will set a precedent for many more projects run by the community.” said.

The SushiSwap founder also apologized to many people who had contact. Among them were Changpeng Zhao, CEO of Binance, and Andre Cronje, creator of Yearn.Finance.

Traded at $ 2.24 before Chef Nomi’s announcement, SUSHI climbed more than 20 percent to over $ 2.70 within minutes.

See Also
Ethereum (ETH) Price Analysis: August 30, 2020


Please enter your comment!
Please enter your name here