ChainThink report, November 17, crypto KOL @Cbb0fe called out Andre Cronje on the X platform, suggesting that the fund manager of Flying Tulip should be reselected. According to official information, the current fund managers are MEV Capital and Re7 Labs, and these two institutions have performed poorly in recent DeFi scandals.

This year, Flying Tulip, an encrypted project newly founded by Andre Cronje, announced a $200 million seed round financing at a $1 billion valuation, which was participated by Brevan Howard Digital, CoinFund, DWF Labs, FalconX, Hypersphere, Lemniscap, Nascent, Republic Digital, Selini, Sigil Fund, Susquehanna Crypto, Tioga Capital, and Virtuals Protocol.

This $200 million financing was completed through a future token Simple Agreement for Future Tokens (SAFT) structure. Flying Tulip aims to build a blockchain-based trading platform covering the entire DeFi space — including spot, derivatives, lending, stablecoins, and insurance, all unified within a single system.