ApeCoin DAO Transparency
It appeared ApeCoin DAO has some degree of hiding some transparency issues…
- This balance of APE 2,500,000 represents loans to market makers.
Who are these market makers ???
- A loan for APE 750,000 was made to a counterparty that became impaired in November 2022.
Who is this counterparty? The now famous collapsed FTX ?
—— This section has a greater transparency!
3rd name listed as Coinbase etc.
Accounts payable are:
• APE 485,367 of fees payable to Coinbase for custodial services from the Commencement Date to 30 November 2022;
• APE 57,760 of administration fees and the Foundation’s expenses as of 30 November 2022; and
• APE 14,788 payable to Special Council as of 30 November 2022.