DeFi protocol Umami Finance sours as CEO goes rogue and core team quits
Umami chief Alex O’Donnell has been accused of dumping tokens and crashing the price. Its team has resigned from the firm’s legal wrapper.
Cryptocurrency news by Protos · Protos
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Show Notes
A dramatic week has resulted in the mass-resignation of Umami Finance’s core team and a crash in the price of the UMAMI token, as the project’s ex-CEO allegedly dumped his token holdings.
Umami Finance claims to be “pioneering the institutional adoption of DeFi,” but TradFi investors are likely to be put off by recent developments.
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