Polychain Accuses Former Employee Of Secret Deal With Eclipse Labs

The post Polychain Accuses Former Employee Of Secret Deal With Eclipse Labs appeared first on Coinpedia Fintech News

Polychain has accused a former employee, Niraj Pant of making a secret deal with portfolio company Eclipse Labs that broke the fund’s policies. The former CEO of Eclipse Labs had allocated Pant 5% of a forthcoming Eclipse crypto token in September 2022, just days after Pant directed Polychain to lead the company’s $6 million pre-seed funding round. However, the allocation was eventually reduced to 1.33%. Polychain told CoinDesk it was unaware that Pant had a financial stake in Eclipse until after he left the firm in 2023.