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FTX-Backed Web3 Startup Bridge Network Faces Internal Strife as Co-Founders Split
Co-founders of Bridge Network, a web3 startup backed by FTX, have parted ways following a management dispute. The disagreement centered on control of the company and access to bank accounts. Kimberly Adams and Favour Uzoaru left the startup, leaving Samuel Eke as the CEO. This move resulted in layoffs and an investigation by Nigeria's Economic and Financial Crimes Commission. Bridge Network, founded in 2021, raised over $3.8 million for its Token Bridge, a solution allowing digital assets to move across blockchains. However, the startup struggled to gain traction and faced internal conflicts, impacting its future prospects.
⚡ Key Points:
- Co-founders split due to management dispute at Bridge Network.
- Layoffs and investigation followed, with operations in turmoil.
- The startup aimed to offer Token Bridge for blockchain asset transfer.
- Internal conflicts and external challenges have affected its prospects.
#BridgeNetwork #Web3 #FTX #Blockchain #StartupSplit #TokenBridge
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