A&T Capital co-founder faces inquiry over alleged misconduct
- The co-founder of A&T Capital has resigned and faced investigations of misconduct.
- The Company has taken a zero-tolerance approach towards unethical or illegal behavior.
- Crypto companies in Hong Kong have received an unexpected boost from Chinese banks.
Crypto Venture Fund A&T Capital has been in the news recently due to the resignation of its co-founder, Yu Jun, and the subsequent initiation of an investigation into his behavior in the workplace.
A Bloomberg report revealed that John is under investigation for personal reasons. The investigation will be led by Jasmine Zhang, the company’s other partner, in cooperation with the relevant authorities. It is worth noting that John’s resignation and investigation comes amid recent allegations of sexual harassment.
On Sunday, A&T Capital issued a statement in Chinese saying it takes a zero-tolerance approach to any unethical or illegal behavior. While the company has made it clear that the accused no longer represents A&T Capital, it has promised to cooperate fully with relevant investigative units and will closely monitor the progress of the investigation.
— A&T Capital (@AT_Capital2021) March 26, 2023
Previously, John served as Chief Investment Officer for cryptocurrency exchange OKX and helped Jack Ma’s fintech group of companies found A&T Capital.
In a surprising move, Hong Kong-based crypto firms began receiving unexpected support from China’s state-owned banks. According to one report, over the past few months, Chinese banks have directly approached cryptocurrency companies to provide banking services or make inquiries. Banks include the Bank of Communications, Bank of China, and Shanghai Pudong Development Bank.
Sung Min Cho, founder of Beoble, said:
Being paid by Chinese lenders means a lot to us because it’s something you would never expect at this point, even around the world.
In context, Beoble is a decentralized application messaging system provider.
The A&T Capital co-founder after inquiring about the alleged misconduct first appeared on Coin Edition.