According to Foresight News, according to FORTUNE, Yida Gao, founder of crypto venture capital firm Shima Capital, was found to have created a secret offshore entity and transferred assets belonging to his venture capital company to a company registered under his own name. In recent months, several senior employees of Shima Capital have resigned, including Chief Technology Officer Carl Hua, Head of Research Alexander Lin, and Chief Operating Officer and Platform Director Hazel Chen.
Yida Gao has not been charged with any crime, and a representative for Shima Capital said the company does not comment on "such regulatory matters." According to sources, Yida Gao's performance and behavior violated the investor protection rules of the U.S. Securities and Exchange Commission (SEC), putting him in a difficult position when raising further funds.
