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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ShortingEnthusiast

· 01-26 01:56

Small investors dare to come out and confront, it seems this matter is indeed hot... Opening the books is a brilliant move, but the only fear is a pile of bad debts. --- Refund 50%? I feel like this number is still being cut down... Transparency is like poison to some project teams. --- Haha, even small retail investors are pushing for refunds, which shows that the main investors are also uncertain... --- For the January 27th deadline, I bet it will either be extended or they'll come up with a new excuse... I've seen too many such dramas. --- Projects that can't open their books are still making big promises... They really treat the community as fools. --- 730 million has been refunded, yet they're still arguing... It's really... a bit of a professional flaw, and this deal is getting more and more shady. --- The most ridiculous thing is that small investors are more eager to push for refunds than the main investors. What does this indicate?

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OldLeekNewSickle

· 01-25 22:35

Are the small investors in follow-on investments starting to put pressure? This indicates there are indeed internal issues, otherwise why would they speak up... --- Opening the books, refund on schedule... sounds good, but the key question is whether the money is still there. --- $7.3 million has been refunded, what about the rest? Do they really have the confidence to hold out until the product launches? --- It's the "small follow-on investors speaking out" again. I've heard this rhetoric so many times, the big investors have already run away. --- January 27th will reveal the truth. When the system can't go live, there will be another round of "technical delay" performances. --- The issue isn't whether refunds are needed, but how much can actually be refunded... Only after the books are disclosed will we know if funds have been diverted for other uses. --- The most disgusting part of this fundraising turmoil is that small investors are always the last to know the truth. --- Investment institutions are already cashing out, while retail investors are still discussing refund plans. The gap is huge. --- Transparency? Talking about this in the crypto world is quite amusing; the key is whether the project team is willing to cooperate.

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AirdropFatigue

· 01-25 06:12

Yes, yes, yes. Even small investors are daring to speak out, which really indicates a serious problem. Opening the books is a must; otherwise, how can there be trust? --- 3.7 million has been refunded, and they still need to continue refunds? It seems that the project's funding chain does have some issues. --- I'm just worried that they might just draw up a timetable to fool everyone again. We’ll have to see if the system can really go live on January 27. --- Even small shareholders are getting impatient, which shows what... This fundraising round is indeed quite aggressive. --- Transparency is so crucial; don’t end up causing some unexpected trouble again. --- Fortunately, there are still investors watching, or else they might just fool the community even more casually.

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AlwaysAnon

· 01-23 03:56

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

· 01-23 03:51

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

· 01-23 03:50

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

· 01-23 03:44

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

· 01-23 03:38

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

· 01-23 03:37

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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