Crypto VC Shima Capital Shutting Down Following SEC Charges Against Founder
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Shima Capital, a $200M crypto venture firm, is shutting down after founder Yida Gao settled fraud charges with the SEC and DOJ. Gao allegedly inflated investment returns to raise funds. FTI Consulting has been appointed to liquidate the firm's assets, including stakes in Monad and Berachain.
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- Shima Capital to shut down after founder Yida Gao settles fraud charges with SEC and DOJ.
- Gao accused of inflating pre-fund investment returns to raise $200M from investors.
- FTI Consulting takes over to liquidate assets, including stakes in Monad and Berachain.
Shima Capital, the $200M crypto venture firm that backed major protocols like Monad and Berachain, is officially shutting down. The collapse follows the indictment of founder Yida Gao, who reached agreements with the U.S. Securities and Exchange Commission (SEC) and Department of Justice (DOJ) over fraud allegations.
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