Controversy Surrounding Taiwanese Serial Entrepreneur! Quantland Delists Platform Coin QLT, Revealing Regulatory Loopholes in Decentralized Finance Private Sale Funds.

Taiwanese entrepreneur Tai-Yuan Chen, who previously founded the Taiwan exchange Cobinhood, has recently sparked controversy again after experiencing ups and downs and founding the trading company Quantrend Technology (量趨科技). Quantrend's supported protocol, Quantland, announced its liquidation on 1/24, and investors believe that the platform Token purchased through the ICO has incurred losses due to the product's termination. Quantland has also issued a corresponding announcement.

Quantland issues liquidation announcement, controversial low-price repurchase of QLT Token

Quantland claims that due to the stricter compliance requirements implemented by the revised Anti-Money Laundering Law and related regulations starting from November 30, 2024, the Quantland team has initiated a project liquidation process on December 1, 2024, and has ceased all virtual asset services in Taiwan. The liquidation process is managed by professional accounting and legal teams, aiming to maximize the interests of QLT holders.

Quantland Financial Overview and Repurchase Mechanism

Announcement claims:

Financial condition: As of November 30, 2024, the fund balance is 2.83 million USDC, and the net assets after deducting costs are 0.99 million USDC.

Repurchase Price: After the settlement is completed, all the circulating QLT will be repurchased at a price of 30.36 USDC per QLT.