BitMart Founder Faces Pressure Over Missing Funds as Binance bStocks Soar
BitMart's official Chinese-language X account has called on founder Sheldon Xia to explain the status of user funds. The company claims that some users are unable to withdraw their money, and employees have not received their final salary or compensation.
The post threatens that if Xia does not provide a verifiable asset disclosure and repayment plan by the deadline, it will continue to submit evidence to regulators, law enforcement, lawyers, and the media.
Xia responded to these claims by calling them 'fabricated rumors'. He promised a counter-attack, stating that they have collected full evidence of the content on X, all of which is fabricated rumors. He added that during US daytime time, he will file a police report and send a lawyer's letter to X, demanding technical and data forensics.
In other news, Binance bStocks has surpassed xStocks to become the second-largest tokenized stock issuer by value, with $624 million on August 3. Ondo Finance still leads at about $927 million.