New crypto startup OX.FUN announced a $4 million funding round led by Foresight Ventures last week. However, Foresight has now distanced itself from the fundraiser.Â
In a statement today, the VC firm clarified that they “unequivocally” did not lead or participate in OX.FUN’s financing. Foresight acknowledged discussions about a potential token trade but said that the deal is now off.Â
OX.FUN launched in January with a gamified crypto exchange model. It has links to the collapsed hedge fund Three Arrows Capital through co-founder Su Zhu. This latest confusion over its $4 million fundraising casts further doubts on the troubled crypto entrepreneur’s newest venture.Â
With OX.FUN’s claims of Foresight’s involvement are now contradicted; it seems the startup’s financing may not be as secured as initially portrayed last week.
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