TechFlow, July 18 — Compound founder Robert Leshner announced he has abandoned his bid for control of LQR, stating that continuous new share issuance by the company diluted shareholder equity to the point where his stake no longer holds effective control. Leshner said he will not launch a proxy or legal battle and instead plans to recommend community experts to LQR to assist in establishing a cryptocurrency treasury. He emphasized that this situation highlights the opacity in traditional markets regarding share tracking, which he believes is precisely where cryptocurrency technology can provide solutions.
Related article: DeFi Pioneer Takes $2.03M Stake in Publicly Traded U.S. Company, Management Fights Back
Add to Favorites
Share to Social Media
