The three co-founders of Backed Finance, the company behind XStocks, once worked at the now-defunct DAOstack.

PANews reported on July 2 that according to LinkedIn data, the three co-founders of Backed Finance, the company behind the stock tokenization platform xStocks, Adam Levi Ph.D., Yehonatan Goldman, and Roberto Klein, have all been confirmed to have worked at the bankrupt DAOstack. Among them, Adam Levi Ph.D. was a co-founder of DAOstack, Yehonatan Goldman was the COO of DAOstack, and Roberto Klein was in charge of laws and regulations at DAOstack. According to ICO Drops data, DAOstack raised a total of approximately US$30 million in multiple rounds of financing from the fourth quarter of 2017 to May 2018, and closed at the end of 2022 due to exhaustion of funds.