According to Cointelegraph, Hong Kong-based stablecoin payment company RedotPay has responded to recent rumors regarding executive departures and fundraising, stating that the company is currently transitioning from an early-stage startup to a unicorn, and that the team adjustments are aimed at optimizing its organizational structure to support sustained growth—not indicative of internal turmoil as suggested externally. Previously, Bloomberg reported that RedotPay had been exploring fundraising of up to $150 million, during which at least five senior employees had left within a year, including two compliance officers. RedotPay did not directly address these claims but confirmed that all co-founders, including CEO Michael Gao, remain actively with the company. Regarding fundraising, RedotPay stated that it currently has sufficient operating cash flow and no urgent need for additional funding, though it remains open to external investors. The company completed three funding rounds in 2025, raising a total of $194 million from institutional investors including Lightspeed, Coinbase Ventures, Pantera Capital, Blockchain Capital, and Circle Ventures.
RedotPay Addresses Executive Departures, Denies Urgent Funding Needs
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Summary
RedotPay addressed reports of project funding updates and executive changes, stating that the departures are part of a strategic shift as the company scales. The Hong Kong-based stablecoin payment company confirmed that all co-founders remain with the firm and denied any urgent need for capital. Bloomberg had reported five senior departures, including two in crypto compliance roles, alongside a potential $150 million fundraising. RedotPay stated it has sufficient cash flow and remains open to investors. To date, the company has raised $194 million from major crypto backers.
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