BLOCKCHAIN CAPITAL ALLEGEDLY RUNNING QUIET COUP AT POLYMARKET

Summary from the TLDR Crypto newsletter

There are rumors alleging Blockchain Capital is running a coordinated founder-displacement campaign at Polymarket. Using the same playbook it allegedly executed at Bluesky earlier this year when partner Kinjal Shah took a board seat after leading the Series A, Jay Graber was moved to "Chief Innovation Officer," and Toni Schneider was installed as CEO. At Polymarket parent Blockratize, BCap partners Bart Stephens and Joshua Rivera have secured formal director seats, while new CFO Warren Jenson (also Audit Chair at BCap portfolio company Ripple) has removed founder Shayne Coplan's unilateral control over budgets and capital allocation, and new VP of Ops Collin McKinney Hill (Ray Dalio's former Bridgewater Chief of Staff, ex-DoorDash GM) has ring-fenced day-to-day operations. None of the claims have been independently corroborated, and all named parties have yet to respond publicly.