The two entities addressed concerns about large sales in the past and said there needs to be change in the future.
Secret Labs CEO Guy Zyskind made a range of assertions about the actions of the Secret Foundation in a post on the network’s governance forum.
Zyskind raised allegations around a lack of transparency from the foundation, an alleged mishandling of an OTC sale that incurred a loss of about $250,000 and a potential open loan to collapsed trading firm Alameda. The concerns were raised in aHe asserted that in 2021 the Secret Foundation sold a large amount of secret tokens and that Bair cashed out a significant part of them without disclosing this to the community.
Bair acknowledged that it’s time for the foundation to make changes. He suggested this could include restructuring the entity or establishing a global board. He also said there should be standards set for compensation and transparency going forward.disclosed
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