RMIT's 'Green Crypto' Partnership Linked to Collapsed $2.8 Billion Scheme
The connection between a blockchain company and the failed HyperTech conglomerate – founded by notorious Melbourne crypto figures Ryan Xu and Sam Lee – has raised questions about the university’s sponsorships vetting processes.
Questions are being raised about RMIT University's sponsorship vetting processes following revelations of a link between its 'green crypto' partnership and a failed $2.8 billion scheme. The partnership involves a blockchain company connected to HyperTech, a conglomerate founded by Melbourne-based crypto figures Ryan Xu and Sam Lee, which has since collapsed. The association has prompted scrutiny over the university's due diligence in selecting corporate partners, particularly in the volatile cryptocurrency sector. The potential financial implications and reputational risks for RMIT are under examination.
This connection raises concerns about the due diligence of academic institutions in partnering with companies in the volatile cryptocurrency sector.
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