Shima Capital to Wind Down After SEC Fraud Allegations

36Crypto

Release Time:12/17/2025 11:21:49

Shima Capital, a blockchain-focused venture firm, is preparing to wind down after the SEC accused it of investor fraud. The U.S. regulator filed a lawsuit on December 3, alleging that founder Yida Gao misrepresented returns and retained $1.9 million in profits from a BitClout token sale. Gao has stepped down and informed founders of the firm’s planned closure. Shima has enlisted FTI Consulting to manage the process. The case highlights ongoing regulatory scrutiny, including efforts in Countering the Financing of Terrorism and compliance with capital gains tax rules.

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