TOP CRYPTO VC SAYS EX-GENERAL PARTNER MADE UNDISCLOSED SIDE DEAL WITH PORTFOLIO COMPANY

Summary from the TLDR Crypto newsletter

Polychain Capital has accused former general partner Niraj Pant of violating fund policies by secretly accepting "adviser" tokens valued at $13.3 million from portfolio company Eclipse Labs. Pant, who directed Polychain's investment in Eclipse, allegedly did not disclose this deal, which Polychain only discovered after his departure. This incident highlights the often opaque and contentious nature of token-based compensation in the crypto industry.