Dubious Strike Off Filing Raises FUD Over Waves PlatformMay 29, 2018, 10:20AM
Rumors abound of bankruptcy and malpractice by the Waves platform. There seems to be little support for the accusations.
The UK Registrar of companies has provided the Waves Platform LTD (WAVES) with two-month notice until they are completely struck off the UK Registrar of Companies. The report recently started to spread across the community and has raised controversy over Waves’ legitimacy and practices.
According to its website, Waves Platform LTD is a private limited company incorporated in the UK. Some community members have voiced concerns about a potential bankruptcy but these claims appear unfounded. In fact, closer examination reveals that Oleksandr Ivanov, Waves CEO, actually applied to voluntarily strike the company off the UK register. In short, Waves could have avoided the question marks and ambiguity by keeping the investors updated. Waves co-founder Cyrille Wetter attempted to clarify in a tweet, calling on naysayers to verify their sources.
Based on publicly available governmental reports provided by Wetter, the company has been registered in Switzerland since December 2017. Failure to keep investors apprised of the Waves Platform LTD’s migration could be considered as a major red flag. The Waves Platform has a total market cap of $382 million and the rumors for an exit scam and tax evasion could permanently harm its reputation.
The controversy initially seemed to cause Waves prices to dramatically shoot up and down but more clarity seems to limit the impact.
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