律动BlockBeats
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)
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