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Wonderland co-founder stands up for his criminal CFO

 


Daniele Sestagalli points out that Michael Patryn is an experienced crypto expert who could help the DAO decisively.


Daniele Sestagalli, one of the co-founders of DeFi project Wonderland and stablecoin project Abracadabra, has campaigned for his controversial colleague Michael Patryn in a recent statement after it was revealed that he was playing a key role in Wonderland:


“Should we close up shop or fight to establish a whole new type of organization with an investment DAO? I'm for the latter, which is why I'm fighting for us to bring someone on board with a lot of experience to manage the DAO wealth.”

A day earlier, a Decentralized Autonomous Organization (DAO) investor revealed that the project's new chief financial officer is Michael Patryn. He was previously involved in founding the ominous crypto exchange QuadrigaCX , which has caused massive controversy in recent years after one of the platform's co-founders mysteriously passed away, and a whopping $145 million in user funds have been lost. In addition, Patryn was convicted of credit card fraud in 2002 .


Although Patryn has never made such a misstep during his tenure at Wonderland, the appointment of a person with such a history of financial crime as the project's money manager of all places raises more than a few questions for investors. So it is hardly surprising that the user "TheSkyHopper" in the Wonderland forum demands that Patryn be relieved of his post as chief financial officer with immediate effect. Another user writes:


“Daniele has to make EXACTLY SUCH decisions in difficult times. This is how a manager should react. Something like this will only make us MUCH stronger.”

Wonderland is a crypto project hosted on the Avalanche blockchain. Before it was revealed that Michael Patryn was involved and before the current market downturn, Wonderland had a whopping $1.9 billion in assets. Since then, however, the project has lost $278 million in value.

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