AC startup Flying Tulip's funding managers are MEV Capital and Re7 Labs, and the community is calling for a change in management.
TL;DR
Crypto KOL @Cbb0fe urges Andre Cronje to replace Flying Tulip's fund managers MEV Capital and Re7 Labs, citing their involvement in recent DeFi collapses. The startup raised $200M at a $1B valuation to build a comprehensive on-chain DeFi trading platform.
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According to ChainCatcher, crypto KOL @Cbb0fe, on the X platform, suggested to Andre Cronje that a new management company be selected for Flying Tulip's $1 billion fund. Official data shows that the current management companies are MEV Capital and Re7 Labs, both of which have been disastrously involved in the recent DeFi collapses.
According to crypto data platform RootData, Flying Tulip, a newly founded crypto project by Andre Cronje, announced the completion of a $200 million private seed round of financing at a valuation of $1 billion. The round was led by Brevan Howard Digital, CoinFund, DWF Labs, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol.
This $200 million funding round was completed through a Simple Future Token (SAFT) structure. Flying Tulip aims to build an on-chain trading platform covering the entire DeFi space—including spot trading, derivatives, lending, stablecoins, and insurance—all unified into one system.