Solana News Update: BlockDAG's $435 Million Presale Faces Scrutiny Amid Founder Accusations That Jeopardize Trust
- Crypto investigator ZachXBT accuses BlockDAG’s CEO of being a front for controversial founder Gurhan Kiziloz, amid a $435M presale. - BlockDAG’s presale, now in its 32nd batch, faces criticism for delays and lack of transparency, with no mainnet or exchange listings confirmed. - A Formula 1 partnership and $0.05 token listing plans aim to boost credibility, but 60% of Trustpilot users rate the project negatively due to delays and unclear communication. - Despite $435M raised, BlockDAG’s liquidity strateg
BlockDAG, a blockchain initiative that has accumulated close to $435 million since launching in early 2024, is facing scrutiny after well-known crypto investigator
Known for uncovering crypto scams, ZachXBT stated on X that Antony Turner, BlockDAG’s listed CEO, is actually a paid spokesperson for Gurhan Kiziloz—a British businessman previously associated with unsuccessful fintech ventures and the now-defunct meme token Big Eyes Coin. Reports indicate that Kiziloz’s name is prohibited in BlockDAG’s Telegram group, with any mention being automatically erased or users being muted. Although the project touts a combination of Directed Acyclic Graph (DAG) technology and Proof-of-Work mining for improved scalability, it has yet to launch a mainnet or confirm any exchange listings, despite multiple postponements of its token debut.
Despite ongoing controversy, BlockDAG is positioning itself as a significant contender in the crypto space for 2025. The project recently revealed a
Nevertheless, doubts remain. Nearly 60% of Trustpilot reviewers have given the project negative ratings, citing ongoing delays and a lack of clear communication. Additionally, there are concerns about the project's technical preparedness, as audits by Halborn and CertiK reportedly covered only vesting contracts.
BlockDAG’s difficulties stand in contrast to broader market movements.
In a market where liquidity and execution are crucial, BlockDAG’s fundraising approach and partnerships are intended to establish it as a leader in 2025. The project’s
The next few months will reveal whether BlockDAG can turn speculation into lasting adoption—or if it will become another crypto project undermined by governance and transparency problems.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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