[Crypto Project Flying Tulip's Fund Management Institutions Spark Controversy, Community Suggests Re-Evaluation]
On November 17, crypto KOL @Cbb0fe suggested on the X platform that Andre Cronje re-evaluate the fund management institutions for Flying Tulip's $1 billion fund. The current fund managers are MEV Capital and Re7 Labs, but these two institutions have performed poorly in the recent series of DeFi-related collapses.
Flying Tulip is a crypto project newly founded by Andre Cronje in September this year. It previously completed a $200 million private seed round financing at a $1 billion valuation, with investors including Brevan Howard Digital, CoinFund, DWF Labs, and others. The financing was conducted through a Simple Agreement for Future Tokens (SAFT) structure. The project plans to build an on-chain trading platform covering the DeFi sector, including functionalities for spot trading, derivatives, lending, stablecoins, and insurance.