- A&T Capital’s founding partner resigned and faced investigations over misconduct.
- The firm took a zero-tolerance approach toward unethical or illegal behavior.
- Crypto firms in Hong Kong have received unexpected support from Chinese banks.
Crypto venture fund A&T Capital has been in the news recently due to the resignation of its founding partner, Yu Jun, and the subsequent commencement of an inquiry into his conduct at the workplace.
A Bloomberg report revealed that Jun is being investigated for personal issues. The inquiry will be led by Jasmine Zhang, the firm’s other partner, with the cooperation of relevant authorities. Notably, Jun’s resignation and investigation come amid recent allegations of sexual harassment against him.
On Sunday, A&T Capital released a statement in Chinese saying it adopts a zero-tolerance approach towards any unethical or illegal behavior. While the firm clarified that the accused no longer represents A&T Capital, it promised to cooperate fully with relevant investigative units and will closely monitor the investigation’s progress.
Previously, Jun served as the OKX crypto exchange’s investment chief and assisted Jack Ma’s fintech conglomerate in establishing A&T Capital.
In a surprising move, crypto firms in Hong Kong have started receiving unexpected support from China’s state-owned banks. According to a report, Chinese banks have directly contacted crypto businesses to offer banking services or make inquiries over the past few months. The banks include the Bank of Communications, the Bank of China, and the Shanghai Pudong Development Bank.
Sung Min Cho, the founder of Beoble, said:
The push by Chinese lenders means a lot to us because it’s something you’d never expect at this point, even around the globe.
Contextually, Beoble is a provider of a messaging system for decentralized applications.
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