Foresight News|12月 12, 2025 02:55
[Stream Finance Accuses Partner of Misappropriating $93 Million in Protocol Assets to Cover Liquidation Losses]
According to Foresight News, citing a report by DL News, the founding team of Stream Finance has filed a lawsuit in U.S. federal court against its partner, accusing them of misappropriating $93 million in protocol assets to cover personal liquidation losses and falsely claiming a 'car accident destroyed the laptop' to delay disclosure.
The lawsuit alleges that Caleb McMeans, who took over operational control of the protocol, entrusted over $90 million in assets to Ryan DeMattia for offline management, despite DeMattia having no formal relationship with the protocol. During the October ETH crash, DeMattia faced margin calls on personal loans and was liquidated due to insufficient collateral, subsequently using Stream's assets to cover the losses, ultimately leading to the near-total depletion of the protocol's assets.
The Stream team accuses McMeans of negligence, refusal to take responsibility, and transferring $2.1 million in protocol assets to his personal wallet. They are now requesting the court to rule McMeans in breach of contract and enforce protocol obligations.
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