Pudgy Penguins raised $9 M in a Seed Round round on 2023-05-08.

🔝 10 Trending Coins today 1. $BTC 2. ULTIMA 3. TON 4. $SOL 5. $ZEC 6. #PENGU 7. SOPH 8. ASTER 9. #HYPE 10. TAO ❤️ #crypto

#عاجل🚨🚨🚨 : Liquidation of $60 million worth of short positions in cryptocurrencies in the past thirty minutes. #البيتكوين in a rocket surge 🚀 Are we back on the right track? #PENGUUSDT #PENGU $PENGU ‌ $BTC ‌ $ETH ‌

Pudgy Penguins native token PENGU experienced a catastrophic sell-off this week, plummeting nearly 80% from a high of $0.04. The trigger for this collapse was the SEC filing charges against its main investor Shima Capital and founder Gao Yida, accusing them of implementing a fraudulent investor scheme. Internal emails revealed that Gao told the founders of portfolio companies that he planned to step down and gradually dissolve the fund.

$PENGU Review/Analysis: The price of PENGU is in a large accumulation zone and is now approaching the lower boundary at $0.0097. If the price holds the lower boundary, we will soon see a reversal forming with the goal of reaching the upper boundary of the accumulation zone.

Another crypto VC quietly exits | Shima Capital is ending operations Industry sources confirm: The crypto venture capital firm Shima Capital, which has invested in Berachain, #Monad , Pudgy Penguins, is quietly shutting down. The trigger is straightforward— Three weeks ago, the SEC officially sued Shima Capital and its founder Yida Gao. The SEC's core allegations include 👇 Serious exaggeration of investment returns in fundraising materials 👉 claimed 90x, but actual returns were only about 2.8x Transferring fund assets to offshore entities fully controlled by the founder Key financials and related-party transactions were not disclosed to investors And more critically: Emails have been sent to the founders of invested projects, where Yida Gao stated 👇 resigned from his position and decided to close the fund Expressing regret over his wrong decision and apologizing to everyone According to Fortune magazine, the day after the SEC lawsuit, Yida Gao agreed to pay approximately $4 million to settle with regulators. 📉 Interpretation of signals: The bull market VC myth is being gradually cleared out The narrative of “halo track record + high returns” is no longer accepted by regulators For project teams, VC endorsements ≠ safety net The market is reshuffling, Not only projects, but capital itself is also being eliminated. This round, May just be the beginning.