Fantom Foundation denies involvement with American institutions

03/14/2023 03:16 • Tech Trends • 78 views

It is reported that the Fantom Foundation said on Twitter that the reserve treasury of the Fantom Foundation has no direct contact with any American institutions, nor does it manage or handle any third-party funds.

Fantom Foundation: The reserve treasury has no direct contact with any American institution

Analysis based on this information:

The Fantom Foundation, a blockchain platform and smart contract ecosystem, has recently made a statement on Twitter regarding its reserve treasury. The message clarifies that the reserve treasury has no direct connection to any American institutions and does not manage or handle any third-party funds.

This announcement comes in light of the increasing scrutiny that some blockchain projects faced from regulatory authorities. The US Securities and Exchange Commission (SEC), for instance, has been investigating several initial coin offerings (ICOs) for possibly violating securities laws. As a result, many blockchain startups have been taking extra precautions to ensure their compliance with regulations, especially if they have dealings with American entities.

The Fantom Foundation’s assertion that its reserve treasury has no ties to American institutions demonstrates its commitment to transparency and compliance. By distancing itself from such connections, the Foundation is minimizing the risks of legal issues related to its operations.

The statement also suggests that the reserve treasury has its own autonomous system that operates separately from any third-party funds. This system appears to be a measure that strengthens the Foundation’s corporate governance and is in line with its vision to create a decentralized ecosystem that promotes transparency and security.

This public message from the Fantom Foundation is vital to reassure its supporters and users of its stable financial standing and ethical practices. Moreover, it also demonstrates the company’s proactive and responsible approach towards compliance with regulatory laws in various jurisdictions.

In conclusion, the Fantom Foundation’s statement on Twitter that it has no direct contact with any American institutions and does not manage third-party funds emphasizes their commitment to transparency and compliance with regulatory standards. This announcement builds trust in the company and supports its vision toward creating a decentralized ecosystem that prioritizes security and transparency.

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Fantom Foundation denies involvement with American institutions

Fantom Foundation: The reserve treasury has no direct contact with any American institution

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