Foresight News reports that Aqua1 Foundation has issued a statement in response to recent rumors regarding its team and operations. The statement claims that Dave Lee joined Aqua1 as a co-founder and CEO in April 2025 and is highly aligned with the team's long-term vision. Aqua1 emphasizes its independent operations, with no equity, financial, or operational ties to any unrelated entities. The team is collaborating with Middle Eastern institutions to advance projects, but some details have not been disclosed due to compliance requirements.