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BTCC / BTCC Square / Global Cryptocurrency /
SEC Charges Shima Capital Founder With Fraud Amid Fund Wind-Down

SEC Charges Shima Capital Founder With Fraud Amid Fund Wind-Down

Author:
Global Cryptocurrency
Published:
2025-12-17 07:53:02
26
3
BTCCSquare news:

The U.S. Securities and Exchange Commission has accused Yida Gao, founder of crypto venture firm Shima Capital, of defrauding investors by raising $169.9 million through false claims. The SEC alleges Gao misrepresented returns and concealed $1.9 million in profits while winding down the Puerto Rico-based fund, which once managed $200 million.

Shima Capital invested in notable projects including Berachain, Monad, and Pudgy Penguins before its collapse. Internal emails reveal Gao acknowledging "misguided decisions" as he steps down. The case marks another escalation in SEC scrutiny of crypto ventures following actions against Terraform Labs and ongoing stablecoin oversight.

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