OmiseGo Founder Denies His ETH Platform Was Acquired For $150 Million

Jun Hasegawa, the founder of Omisego which created the OmiseGo cryptocurrencies, angrily denied the allegations that his Ethereum-based payments platform was purchased for $150 million by one of the largest private companies of Thailand Charoen Pokphand Group according to the Twitter post that we are discussing in our latest crypto news.

Jun tweeted that the crypto news website The Block was publishing fake news regarding the acquisition. He also said he will pursue a legal action if the news channel doesn’t issue a correction on the story.

In Block’s defense, one of the reporters who published the story says that the news is true and he obtained the information after long and extensive research and sourcing. The story emerged after The Block reported that Omise was acquired by the Charoen Pokphand Group for $150 million after ‘’several sources confirmed the deal.’’

The Charoen Pokphand Group is a part of the larger family-The Charawanon Family which has net worth of whopping $36 billion which makes it the fourth richest family in entire Asia. Omise on the other hand, is one of the best payment service providers of Thailand and in April 2018, one of the largest banks of South Korea Shinhan, partnered with Omise in order to speed up the implementation of blockchain technology across the continent. At that time, Hasegawa stated that OmiseGo will revolutionize digital payments systems globally.

Currently, it is still unclear whether the reports are true or false. False accusations and angry twitter beefs are not unfamiliar for the crypto space. For example, at the start of this year, Chengpeng Zhao who is the founder of Binance accused the CCN news channel of spreading FUD after they reported that a hacker was able to reach the customer data from multiple crypto exchanges including binance and sold it on the Dark Web.

The entire crypto industry is suffering from inaccurate information and fake journalism which leads the market into a negative sentiment. But what is also an issue is that market leaders always expect only the good news to reach the headlines in order to boost the industry rather than providing real-life data and analysis that are crucial for the investors.