ApeCoin DAO Transparency
It appeared ApeCoin DAO has some degree of hiding some transparency issues…
This balance of APE 2 , 500 , 000 represents loans to market makers.
Who are these market makers ???
A loan for APE 750 , 000 was made to a counterparty that became impaired in November 2022 .
Who is this counterparty? The now famous collapsed FTX ?
—— This section has a greater transparency!
3 rd name listed as Coinbase etc.
Accounts payable are:
• APE 485 , 367 of fees payable to Coinbase for custodial services from the Commencement Date to 30 November 2022 ;
• APE 57 , 760 of administration fees and the Foundation’s expenses as of 30 November 2022 ; and
• APE 14 , 788 payable to Special Council as of 30 November 2022 .
