Several Members Of The ParaSpace Team Resigned This Week. Here's What You Need To Know:
- Kyle
- May 20, 2023
- 2 min read
After a public dispute that included accusations of mishandled funds and an alleged company takeover, several notable members of the Paraspace team resigned from the company earlier this week.
On Thursday, Paraspace’s JennDefer, Jay Aka MrFryR, Thomas, EthanDG, Hotlneblng, and Shield all publicly announced that they would be leaving the lending and Bored Ape staking protocol.
“The team has sent a private resignation to Yubo (Paraspace’s Co-Founder) and we just want to focus on a speedy resolution,” Jay told the Gazette. “There’s a non-financial settlement agreement in the works (my post) but Yubo has suddenly stopped communicating with the team. Not sure how ParaSpace can reach a good resolution if this doesn’t get pushed through, still waiting for him to respond. Without resolving this, we really don’t know what the future of the protocol looks like. Me and Thomas are also stepping down from our roles, and we are happy to continue to help the protocol on a volunteer basis.”
As the Bored Ape Gazette previously reported, Jay and other former Paraspace team members claimed that ParaSpace's Founder, Yubo Ruan, misused user funds after the protocol had its assets saved by white hat hackers in March 2023.

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