Polychain, founded by Olaf Carlson Wee, is perhaps one of the most trustworthy as well as elite funds serving startups in the crypto market. Moreover, one of the most imperative facts that makes it one of a kind is that Polychain is among the earliest funds to invest in tokens rather than companies.
BUT WHAT IS WRONG WITH POLYCHAIN NOW?
U.S Securities and Exchange Commission(SEC) recently figured out quite an imperative fact about one of the most prominent venture Polychain. SEC filings show that Polychain has suffered a loss of $376.4 million in its value.
The new filing of the SEC stated the Polychain had $591.5 million assets under management at the end of March. However as far as it’s August 2018 filling is concerned, Polychain clearly showed $967.8 million in assets under management. This clearly indicates the huge loss of $376.4 million that Polychain has suffered.
There doesn’t seem to be any ray of hope as of now since the Wall Street Journal itself mentioned in a report that Polychain was no longer a billion-dollar operation.
However, when asked to explain a bit about the present scenario of the company, Polychain didn’t give any response even after multiple requests for comments by different platforms.