#financialfraud — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #financialfraud, aggregated by home.social.
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Hands up if you've heard of a kiwi company called Futureverse. I hadn't, but I enjoy good investigative journalism and this is worth a read.
From around 2020, a bunch of crypto or crypto-adjacent companies were repackaged as the Futureverse Corporation. Within a few years it was "claimed" to be a billion-dollar business.
Futureverse sailed the NFT oceans and rode the Metaverse wave, just as it collapsed. They received millions in funding from government agencies and in 2025, Fast Company listed it as "one of the world’s most innovative companies."
"But it would take only a couple of years before Futureverse seemed less a rocketship going to the moon than a roller-coaster going off the rails. Today all that remains is a smouldering crater."
Matt Nippert follows the money including a dodgy $530m deal which inflated the company's value but probably only existed on paper.