'I F**ked Up': SushiSwap Creator Chef Nomi Returns $14M Dev Fund
SushiSwap creator "Chef Nomi" has returned all $14 million in ether, apologizing to the DeFi project's community for suddenly liquidating his holdings.
Sep 11, 2020 at 4:30 p.m. UTCUpdated Aug 19, 2021 at 4:17 a.m. UTC
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SushiSwap creator "Chef Nomi" has returned all $14 million in ether (ETH) that he cashed out from the automated market maker last week, apologizing to the community for suddenly liquidating his SUSHI holdings.
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- The SushiSwap creator suddenly sold the tokens last weekend, prompting a 73% crash in the price of the SUSHI token and creating a massive backlash from the project's supporters and accusations of an exit scam.
- This ultimately led to Nomi transferring ownership of the project to FTX CEO Sam Bankman-Fried.
- SushiSwap co-founder 0xMaki said he was disappointed in the liquidation, according to an interview with CoinDesk China.
- Following the news that the $14 million in ether had been returned, the price of SUSHI soared from $2.26 to $2.70, a rise of 16%.
- SushiSwap is a massively popular fork of DeFi project Uniswap that is still less than three weeks old.
- In another tweet Friday, Nomi said:
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