Solana News Update: BlockDAG's $435 Million Presale Faces Scrutiny Amid Founder Accusations That Jeopardize Trust

BlockDAG, a blockchain initiative that has accumulated close to $435 million since launching in early 2024, is facing scrutiny after well-known crypto investigator

the company’s CEO is merely a figurehead for a founder with a contentious background in the fintech and crypto sectors. These claims surfaced as BlockDAG rolled out its "Value Era" campaign, raising questions about the project’s leadership and the authenticity of its ongoing fundraising.

Known for uncovering crypto scams, ZachXBT stated on X that Antony Turner, BlockDAG’s listed CEO, is actually a paid spokesperson for Gurhan Kiziloz—a British businessman previously associated with unsuccessful fintech ventures and the now-defunct meme token Big Eyes Coin. Reports indicate that Kiziloz’s name is prohibited in BlockDAG’s Telegram group, with any mention being automatically erased or users being muted. Although the project touts a combination of Directed Acyclic Graph (DAG) technology and Proof-of-Work mining for improved scalability, it has yet to launch a mainnet or confirm any exchange listings, despite multiple postponements of its token debut.

Despite ongoing controversy, BlockDAG is positioning itself as a significant contender in the crypto space for 2025. The project recently revealed a

, which includes global branding at Grand Prix events and plans for a listing on February 10, 2026, at a price of $0.05 per token. This partnership, along with the substantial accumulated funds, has led to comparisons with leading Layer-1 blockchains.

Nevertheless, doubts remain. Nearly 60% of Trustpilot reviewers have given the project negative ratings, citing ongoing delays and a lack of clear communication. Additionally, there are concerns about the project's technical preparedness, as audits by Halborn and CertiK reportedly covered only vesting contracts.

BlockDAG’s difficulties stand in contrast to broader market movements.

(SOL), for instance, is encountering major resistance as its price continues to form despite strong fundamentals. The network’s total value locked (TVL) remains around $11 billion, and a new Solana ETF in Hong Kong has increased institutional interest. However, has struggled to surpass the $200 mark, reflecting persistent uncertainty in the altcoin market.

In a market where liquidity and execution are crucial, BlockDAG’s fundraising approach and partnerships are intended to establish it as a leader in 2025. The project’s

, which dedicates part of the accumulated proceeds to market-making and exchange listings on MEXC, LBank, and BitMart, aims to provide stability after launch. With a reported 3.5 million X1 miners and 20,000 active participants, BlockDAG asserts it is "ready for the market," though its reputation depends on resolving founder-related controversies and fulfilling technical commitments.

The next few months will reveal whether BlockDAG can turn speculation into lasting adoption—or if it will become another crypto project undermined by governance and transparency problems.

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