"MIT Grad's $200M Crypto Fund Faces Uncertain Future"

Yida Gao, a former MIT instructor and crypto investor, raised $200 million for his venture firm Shima Capital from high-profile backers like Bill Ackman. However, a Fortune investigation revealed Gao's creation of a secret offshore entity to funnel assets, potentially violating SEC rules. This has led to investor concerns, employee departures, and difficulties in raising further capital, casting a shadow over Gao's once-promising career in the crypto industry.