Zhao Changpeng forwarded Kuai Dong's disclosure article about the market maker Web3Port
ChainCatcher news, Zhao Changpeng forwarded Kuai Dong's disclosure article about the market maker Web3Port, which highlights:May Liu and her team established a "brokerage pipeline to Binance," from Spark Digital Capital to Web3Port and then to Whisper.Initially, Spark operated as a VC, relying on off-market outsourcing + FA business to let VCs invest in projects while obtaining free tokens for themselves. After the industry competition in 2021 and 2022, project parties were no longer willing to give tokens for free, so they shifted to an incubator model, establishing Web3Port to provide project packaging and VC connections in exchange for 1-3% of tokens.However, relying solely on the incubator was not enough to monetize, so they established the market maker Whisper, which, under the guise of market making, actually created a sales window for the free tokens in their possession.Ultimately, this system became a complete pipeline from packaging financing to exit, with retail investors on Binance becoming the final payers.ChainCatcher previously reported, according to Binance's announcement, Binance discovered that a market maker (hereinafter referred to as "market maker") responsible for GoPlus Security (GPS) was also involved in the market-making activities for the MyShell (SHELL) project.To better protect Binance users, Binance has taken the following additional measures against the misconduct of this market maker:The market maker has been delisted and prohibited from conducting any further market-making activities on Binance;The relevant earnings of the market maker have been confiscated and will be used to compensate users of the GPS and SHELL projects (the detailed compensation plan will be determined and announced by the relevant project teams).