According to ChainCatcher, Wintermute co-founder and CEO Evgeny Gaevoy disclosed on the X platform that the NEAR Foundation refused to fulfill its promise to sell $11.2 million of USN for FTX creditors. Wintermute said it would make a final public attempt to require the NEAR Foundation to complete the redemption. If the NEAR Foundation continues to do so, Wintermute will take legal action.
Gaevoy said that Wintermute has been working with the FTX bankruptcy estate since the spring to facilitate the liquidation of its assets to maximize the distribution of creditors. As part of this, Wintermute was asked to assist in the sale of 11.2 million USN. Wintermute executed the transaction and provided FTX creditors with more than $11 million. The sale was based on NEAR's public statement that it could exchange USN for USDT on a 1:1 basis. When Wintermute submitted a redemption request, NEAR refused to fulfill its promise. Two and a half months later, Wintermute still had not received any USDT and was finally quoted 20% of the amount involved.
