Space financing controversy heats up: Investment institutions pressure for timely refunds and financial disclosures

SerumDegen · 2026-01-23T03:28:10+00:00

Space financing event has new developments, with investors demanding that the project prioritize protecting the rights of the community and public sale participants, promising to launch a refund system on January 27 and return at least 50% of the funds raised. Additionally, investors require disclosure of fund usage and remaining amounts, emphasizing financing transparency.

SerumDegen

2026-01-23 03:28:10

Abstract generation in progress

【ChainNews】The Space fundraising controversy continues to escalate. Recently, an investor spoke out, stating that the project team must prioritize the rights of the community and public sale participants, and demanded that, in accordance with previous public commitments, the refund system be launched on January 27th as scheduled, refunding at least 50% of the total funds raised, and allowing public sale users to flexibly choose partial refunds.

More importantly, the investor also requested the project team to open their books—disclose the specific allocation of funds, how much money is currently remaining, and the next steps. Interestingly, this investor stated that they are not a major investor in Space, only a small backer, but are now actively urging the project team to refund as much as possible while ensuring the first public version of the product is launched on time.

Previously, Space announced the return of $7.3 million in excess funds raised. This further statement reflects the community’s ongoing concern about transparency in fundraising and the use of funds.

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AlwaysAnon

· 12h ago

Small-scale co-investors are starting to put pressure, which shows there are indeed internal issues. --- 730 million has been refunded, but the refunds still need to be made on schedule? This pace is a bit too fast. --- Opening the books is a brilliant demand. I just want to see how they explain where that money went. --- At this point, they still rely on small investors to push, how difficult it must be for the project team to take the lead themselves. --- A 50% refund quota sounds like they are doing the math. --- If they were truly transparent, they would have disclosed it long ago. Being forced to open the books now—what does that say? --- See you on January 27th. If the refund system isn't online by then, we'll all have a clear idea. --- Small co-investors dare to speak out, so what are the main investors doing? --- Community rights and interests first? Just forget it, it’s still about how much they can circle in. --- This move is like being roasted over a fire; disclosing financials will probably make things even worse.

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gas_fee_therapy

· 12h ago

Opening up the ledger is a good point; it really needs to be more transparent, or else the trust will be gone long ago.

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MEVictim

· 12h ago

Opening the ledger? Sounds good, but I bet five bucks it will still end in a dispute. --- A 50% refund sounds good, but I'm afraid it will be delayed again. --- Small investors dare to confront generously, quite interesting. --- 730 million has been refunded, but they are still chasing payments. This project definitely has issues. --- January 27th? I choose to wait and see if it can be on time. --- Transparency in the crypto world is just a joke. Wake up, everyone. --- Investors have to come out and speak, which means the situation is serious. --- I just want to know where that money went. Is it that hard? --- Even small investors can pressure like this, what about the main investors? --- Refunds and financial reports again, typical of air coins. --- On schedule? I doubt it. Let's just wait for it to be delayed three or five times.

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MidnightGenesis

· 12h ago

On-chain data still shows no contract changes. How is the $7.3 million refund being allocated? Was it deployed late at night... It’s worth noting that small investors are starting to apply pressure, indicating that this is a significant issue.

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SerRugResistant

· 12h ago

The ledger must be open and transparent, or who will believe it? I've seen this trick too many times. --- Small investors daring to speak out shows that the issue is indeed significant. --- 7.3 million has been recovered, and they still want to push further? This batch of investors is quite something. --- As for transparency, Web3 should start improving from this point. --- The January 27th deadline will be clear; betting 5 yuan and still delaying again. --- Requiring the ledger to be open is reasonable; why is the investor pushing for it? --- Really, small investors are all pushing for refunds. What is the main investor doing? --- On-time launch + refunds + financial disclosure—three major actions all happening at once, it's a bit intense. --- This is what it means to be responsible to the community, not those empty promises. --- Anyway, let's see. In the end, it will definitely be delayed again.

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MEVHunterLucky

· 12h ago

Are you still playing this game in 2024? Opening the books should have been done a long time ago. --- Small investors can push for such a big refund, which shows there's a lot of water inside. --- They refunded 7.3 million USD and still want to refund 50%, how exaggerated is this financing? --- Don't just talk about January 27, the key is whether the money can really be refunded. --- Once the books are made public, it'll probably be a mess again. We'll just watch and see. --- Trust = 0 now, it really takes the investors pushing hard to get the money back. --- This transparency requirement would have caused a collapse two years ago. Being able to survive until now is a real skill. --- Refunds sound easy but are hard to do. Are we betting on execution? --- The investors themselves don't even look like shareholders anymore; the project is really a mess. --- On-time launch, on-time refunds, disclosure of the books—if any one of these can be done halfway, I’ll consider Space a win.

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