Prominent trader CBB has raised concerns about GAIB's transparency, questioning the whereabouts of funds and collateral after an investigation. CBB highlighted the removal of transparency links from GAIB's website and noted that 75% of GAIB's reserves, amounting to $150 million, lack third-party verification.
In response, GAIB CEO Kony assured that stablecoin withdrawals are proceeding smoothly on a daily basis. Kony also mentioned that the transparency page is being redesigned and confirmed that all AID and sAID users have received clear disclosures regarding withdrawals, capital conversion, and transparency modules.
GAIB Faces Scrutiny Over Transparency and Reserve Claims
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
