Home web3.0 Figure Markets Requests Access to Ionic Digital Records to Investigate Potential Misconduct by the Board of Directors

Figure Markets Requests Access to Ionic Digital Records to Investigate Potential Misconduct by the Board of Directors

Sep 08, 2024 pm 06:49 PM
Figure Markets Shareholder Ionic Digital Board Misconduct

Figure Markets today announced that, together with Veton Vejseli, a shareholder of Ionic Digital, it has requested access to certain company records

Figure Markets Requests Access to Ionic Digital Records to Investigate Potential Misconduct by the Board of Directors

San Francisco, California, September 7th, 2024, Chainwire

Figure Markets announced today that, together with Veton Vejseli, a shareholder of Ionic Digital, it has requested access to certain company records under Section 220 of the Delaware General Corporation Law. This request seeks information to investigate potential misconduct by the Board of Directors and assess their performance of fiduciary duties.

Figure Markets and Mr. Vejseli believe access to these records (the “Books and Records”) is crucial for protecting shareholder interests. This request arises from concerns about potential self-dealing behavior by board members and actions that may have disadvantaged shareholders. Specific areas of investigation include:

Based on interactions with the Board, public filings, and other information, Figure Markets and Mr. Vejseli believe the Board may be prioritizing its own interests over those of shareholders. This pattern of behavior is allegedly evidenced by:

“Having been involved in the Celsius bankruptcy from the beginning, it’s unfortunate how creditors have been treated,” said Mike Cagney, CEO of Figure Markets. “We hope by forcing a special shareholder meeting to improve Ionic's management, governance, and strategy, we can salvage value for shareholders.”

In response to widespread shareholder dissatisfaction, Figure Markets initiated a grassroots social media campaign aimed at securing 25% of Ionic shareholders to call for a special shareholder meeting. Remarkably, despite the challenge of rallying 86,000 shareholders, none of whom hold more than 1% of the stock, Figure Markets has successfully garnered support from 29% of the outstanding shareholders.

Figure Markets and Mr. Vejseli believe the Board's actions may constitute gross negligence and warrant removal. They also express concern that these actions may have stripped shareholders of their voice in company governance. Access to the Books and Records represents a critical step towards restoring shareholder democracy at Ionic.

This inspection request will allow Figure Markets and Mr. Vejseli to investigate potential misconduct and assess the Board's performance of its fiduciary duties. They urge the Board to act with urgency and collaborate constructively to address shareholder concerns.

The full text of the Books and Records demand can be found here.

About Figure Markets

Figure Markets is democratizing finance through blockchain. We're building the exchange for everything – a decentralized custody marketplace for crypto, stocks, bonds, credit and more. We're bringing best in class leverage, margin trading, and liquidity to our exchange, while offering our members extensive borrowing options and unique investment opportunities. Figure Markets puts our members in control of their assets and data, disintermediating legacy brokers, exchanges and lenders.

Figure Markets is backed by leading venture capital firms and strategic partners, including Jump Crypto, Pantera, Distributed Global, Faction Lightspeed, NewForm Capital and CMT Digital. Figure Markets was founded by a seasoned team of entrepreneurs and operators from TradFi, fintech, and DeFi, including Mike Cagney and June Ou.

Learn more at www.figuremarkets.com.

Contact

Paula Jackler[email protected]

The above is the detailed content of Figure Markets Requests Access to Ionic Digital Records to Investigate Potential Misconduct by the Board of Directors. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot AI Tools

Undress AI Tool

Undress AI Tool

Undress images for free

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Hot Topics

PHP Tutorial
1596
276
How many Ethereum has issued in total? Where do ordinary people buy Ethereum? How many Ethereum has issued in total? Where do ordinary people buy Ethereum? Jul 31, 2025 pm 10:57 PM

1. Ordinary users can purchase Ethereum through mainstream digital asset trading platforms such as Binance, Ouyi OK, HTX Huobi. The process includes registering an account, identity authentication, binding payment methods and trading through market or limit orders. The assets can be stored on the platform or transferred to personal money sacrificials; 2. Ethereum has no fixed issuance limit, with about 72 million initial issuance, and it is continuously issued through the PoS mechanism and the destruction mechanism is introduced due to EIP-1559, which may achieve deflation; 3. Before investing, you need to understand the risk of high volatility, enable two-factor verification to ensure account security, and learn asset custody methods such as hardware or software money sacrificials; 4. Ethereum is the core platform of decentralized applications, DeFi protocols and NFT ecosystems, supporting the operation of smart contracts and promoting digital asset rights confirmation and flow

Will Ethereum callback 2000? A brief overview of Ethereum's trends in recent years Will Ethereum callback 2000? A brief overview of Ethereum's trends in recent years Aug 01, 2025 pm 10:39 PM

The price fluctuations of ETH have touched the hearts of countless investors, and discussions about whether its prices will bottom out again have never stopped. This article will review the price trends of Ethereum in recent years, and combine current market fundamentals and technical indicators to explore whether it is possible to pull back to the key support level of US$2,000, providing readers with a multi-dimensional market observation perspective.

Ouyi app download and trading website Ouyi exchange app official version v6.129.0 download website Ouyi app download and trading website Ouyi exchange app official version v6.129.0 download website Aug 01, 2025 pm 11:27 PM

Ouyi APP is a professional digital asset service platform dedicated to providing global users with a safe, stable and efficient trading experience. This article will introduce in detail the download method and core functions of its official version v6.129.0 to help users get started quickly. This version has been fully upgraded in terms of user experience, transaction performance and security, aiming to meet the diverse needs of users at different levels, allowing users to easily manage and trade their digital assets.

August cryptocurrency exchange discount evaluation: new user rewards and handling fee reductions August cryptocurrency exchange discount evaluation: new user rewards and handling fee reductions Aug 08, 2025 pm 11:15 PM

Table of Contents: August Binance (Binance) Exchange Discounts: August Bybit Exchange Discounts: August MEXC Matcha Exchange Discounts: August Bitfinex (Green Leaf) Exchange Discounts: Cryptocurrency Exchange Ranking This article will compile the latest offers from major cryptocurrency exchanges in August 2025, and one article allows readers to enjoy the best benefits. What many newbies in the currency circle don’t know is that most exchanges have hidden application offers, which include: fee reduction (10-20% reduction) new account bonus (can serve as margin, use

USDT virtual currency account activation guide USDT digital asset registration tutorial USDT virtual currency account activation guide USDT digital asset registration tutorial Aug 01, 2025 pm 11:36 PM

First, choose a reputable digital asset platform. 1. Recommend mainstream platforms such as Binance, Ouyi, Huobi, Damen Exchange; 2. Visit the official website and click "Register", use your email or mobile phone number and set a high-strength password; 3. Complete email or mobile phone verification code verification; 4. After logging in, perform identity verification (KYC), submit identity proof documents and complete facial recognition; 5. Enable two-factor identity verification (2FA), set an independent fund password, and regularly check the login record to ensure the security of the account, and finally successfully open and manage the USDT virtual currency account.

What is the Genius Act? What is the impact? Can stablecoins save US dollar and US debt? What is the Genius Act? What is the impact? Can stablecoins save US dollar and US debt? Aug 08, 2025 pm 10:54 PM

The Genius Act strengthens the linkage between stablecoins and US dollar and US bonds by establishing a federal regulatory framework and requiring stablecoins to hold US dollars or US bonds 1:1 as reserves; 1. The bill clearly defines payment stablecoins and implements AML/KYC supervision; 2. The issuance of stablecoins will increase the demand for short-term US bonds, which may significantly affect the US bond market and yield; 3. The development of stablecoins not only improves cross-border payment efficiency, but also brings systemic risks and challenges to the traditional banking system, which may change the global financial landscape.

Binance download official website https Binance APP download link official website https Binance download official website https Binance APP download link official website https Aug 01, 2025 pm 11:21 PM

Binance APP is a world-leading digital asset service application, providing users with safe and convenient trading experience and comprehensive market information. Through its official mobile client, users can grasp the latest market trends, manage personal digital assets, and conduct diversified trading operations anytime and anywhere. This article will introduce in detail how to obtain and install the Binance APP through official channels, as well as its core functions and usage techniques, to help users use the platform safely and efficiently.

Ethereum, a blockchain platform that surpasses Bitcoin, with advantages and innovation inventory Ethereum, a blockchain platform that surpasses Bitcoin, with advantages and innovation inventory Aug 06, 2025 pm 11:57 PM

Through its Turing-complete smart contracts, EVM virtual machines and Gas mechanisms, Ethereum has built a programmable blockchain platform beyond Bitcoin, supporting diversified application ecosystems such as DeFi and NFT; its core advantages include a rich DApp ecosystem, strong programmability, active developer community and cross-chain interoperability; it is currently implementing consensus transformation from PoW to PoS through the upgrade of Ethereum 2.0, introducing beacon chains, verifier mechanisms and punishment systems to improve energy efficiency, security and decentralization; in the future, it will rely on sharding technology to realize data sharding and parallel processing, greatly improving throughput; at the same time, Rollup technology has been widely used as a Layer 2 solution, Optimistic Rollup and ZK-Rollu