Wintermute claims NEAR backed out of $11M stablecoin redemption deal

The NEAR Foundation and Aurora allegedly reneged on an offer to convert $11 million worth of USN stablecoins, Wintermute founder and CEO Evgeny Gaevoy has claimed.

In a Nov. 7 X (Twitter) post, Gaevoy claimed NEAR refused to honor a commitment to facilitate the sale of $11.2 million worth of its stablecoin USN for the FTX estate.

3. Summary

To reiterate, I see this situation very clearly as:

– NF committed to backstop USN and earmarked money for it- Aurora accepted the redemption in August (and only last week backtracked on it)- NF decided they have the power to keep the $11M to themselves instead of…

— wishful cynic (@EvgenyGaevoy) November 7, 2023

Gaevoy said Wintermute was working…

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