FloorDAO Sends $2.5M to Splinter Group After Months of Fighting Over Financial Commitments

FloorDAO, which seeks to build products for “NFT-Fi,” recently sent over $2.5 million of its treasury – in crypto tokens and NFTs – to a splinter group called FloorkDAO that was controlled by activist investors and comprised of dozens of disaffected holders who opted to join their exodus. The splinter group quickly initiated a redemption that paid nearly $5 per FLOOR, close to this year’s high water mark for the struggling asset, which is currently trading at $3.88.

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• Source: https://www.coindesk.com/tech/2023/10/06/activist-crypto-investors-score-25m-bounty-after-campaign-on-floordao/?utm_medium=referral&utm_source=rss&utm_campaign=headlines