Aqua1, CEO rejects links to Web3Port, the market maker implicated in MOVE crash
The post Aqua1, CEO rejects links to Web3Port, the market maker implicated in MOVE crash appeared on BitcoinEthereumNews.com. Web3 investment firm Aqua1 Foundation has denied any connection to Chinese market maker Web3Port. The crypto fund, which recently bought $100 million worth of WLFI tokens from World Liberty Financial (WLF), described such claims as false and misinformation. According to a post on its official X account, the fund operates independently. It has no ties with any unrelated entity, while its co-founder and CEO, Dave Lee, joined the team in April 2025. It said: “Aqua1 operates independently and has no equity, financial, or operational ties to any unrelated entity.” The post follows recent accusations that Aqua1 co-founder Dave Lee might be the same person as David Li, a former employee of Hong Kong-based Web3Port. Web3Port was accused of market manipulation earlier this year when it dumped MOVE tokens, leading to several exchanges banning the firm. However, Aqua1 denied such connections, noting that it has several institutional partners in the Middle East and is working with them on several initiatives. The fund stated that it cannot publicly disclose information yet because of ongoing regulatory and compliance procedures. Interestingly, Dave Lee also corroborated the Aqua1 post, adding that he left his previous employer to take a founding role in Aqua1 earlier this year. However, he did not name the former employer. Lee said: “I stepped away from my role at my previous employer earlier this year due to fundamental differences in vision and strategy, and took on a founding role at Aqua1 — a platform I believe in and will help shape as part of a broader structure we are establishing in the UAE.” Meanwhile, both Aqua1 and Lee posts mentioned that they will take legal action for any factually incorrect or defamatory coverage to protect their reputation. Independent journalist claims Aqua1 is connected to Web3Port Speculations about any connection between the…
The post Aqua1, CEO rejects links to Web3Port, the market maker implicated in MOVE crash appeared on BitcoinEthereumNews.com.
Web3 investment firm Aqua1 Foundation has denied any connection to Chinese market maker Web3Port. The crypto fund, which recently bought $100 million worth of WLFI tokens from World Liberty Financial (WLF), described such claims as false and misinformation. According to a post on its official X account, the fund operates independently. It has no ties with any unrelated entity, while its co-founder and CEO, Dave Lee, joined the team in April 2025. It said: “Aqua1 operates independently and has no equity, financial, or operational ties to any unrelated entity.” The post follows recent accusations that Aqua1 co-founder Dave Lee might be the same person as David Li, a former employee of Hong Kong-based Web3Port. Web3Port was accused of market manipulation earlier this year when it dumped MOVE tokens, leading to several exchanges banning the firm. However, Aqua1 denied such connections, noting that it has several institutional partners in the Middle East and is working with them on several initiatives. The fund stated that it cannot publicly disclose information yet because of ongoing regulatory and compliance procedures. Interestingly, Dave Lee also corroborated the Aqua1 post, adding that he left his previous employer to take a founding role in Aqua1 earlier this year. However, he did not name the former employer. Lee said: “I stepped away from my role at my previous employer earlier this year due to fundamental differences in vision and strategy, and took on a founding role at Aqua1 — a platform I believe in and will help shape as part of a broader structure we are establishing in the UAE.” Meanwhile, both Aqua1 and Lee posts mentioned that they will take legal action for any factually incorrect or defamatory coverage to protect their reputation. Independent journalist claims Aqua1 is connected to Web3Port Speculations about any connection between the…
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