PANews reported on July 15 that the Aqua1 Foundation issued a statement responding to recent rumors about its team and operations. The statement said that Dave Lee joined Aqua1 as co-founder and CEO in April 2025, and he is highly aligned with the team's long-term vision. Aqua1 emphasized its independent operations and has no equity, financial, or operational ties with any unrelated entities. The team is working with institutions in the Middle East to advance the project, but some details have not been disclosed due to compliance requirements.
According to previous news, Aqua 1, which invested 100 million USD in WLFI governance tokens, has been reported to be associated with Web3port.