Crypto venture firm Shima Capital is initiating an “orderly wind-down” after the US Securities and Exchange Commission sued its founder, Yida Gao, for allegedly defrauding investors. The SEC’s complaint, filed November 25, accuses Gao and Shima Capital of making false and misleading statements while raising nearly $170 million. The core of the SEC’s case rests on a pitch deck used between 2021 and 2023. This deck allegedly inflated Gao’s investment track record, claiming one prior investment delivered a ...