律动BlockBeats|Dec 12, 2025 02:48
[Stream Finance Accuses Partner of Misappropriating $93 Million in Protocol Assets to Cover Liquidation Losses]
BlockBeats News, December 12 – 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 the protocol's operational rights, entrusted over $90 million in assets to Ryan DeMattia, who had no formal affiliation with the protocol, for offline management. During the ETH crash in October, DeMattia faced a margin call on personal loans and was liquidated, 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, refusing to take responsibility, and transferring $2.1 million in protocol assets to his personal wallet. They are now requesting the court to rule that McMeans breached the agreement and to enforce the protocol's obligations. (DL News)
Share To
Timeline
HotFlash
APP
X
Telegram
CopyLink