The Chinese fintech giant provided financial support to A&T Capital, as it specializes in investing in offshore crypto projects. The decision to withdraw funds from the fund was made by Ant Group amid a scandal provoked by an internal investigation into the activities of A&T Capital founding partner Yu Jun and his resignation.
It remains unclear whether A&T Capital will continue to operate as an independent investment company or will be forced to seek new investors to maintain its operations. Previously, A&T Capital invested in crypto lending company Matrixport and Ethereum software developer ConsenSys.
There have been no official statements from Ant Group, Yu Jun or representatives of A&T Capital regarding what is happening.
A year earlier, Ant Group, Baidu, JD.com and Alibaba Group advocated for mandatory user authentication when trading NFTs and supported a “self-discipline initiative” to combat illegal transactions in the field of non-fungible tokens.
Source: Bits
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