According to DLNews, the founder of Defi Protocol Stream Finance has filed a lawsuit against the partner, accusing it of misappropriating $93 million of funds.
Stream Trading Corp. accused Georgia resident Ryan DeMattia of using the funds to cover his losses after defaulting on his personal loan, while Florida resident Caleb McMeans was accused of failing to meet the terms of an agreement signed in January, according to the lawsuit.
McMeans took over control of the Stream protocol in January, but then handed over more than $90 million to DeMattia for off-chain investments. When the founders demanded more transparency, DeMattia repeatedly pushed back, even claiming that its laptop was destroyed in a car accident.
On Nov. 2, DeMattia admitted to losing almost all of its assets in trust. The lawsuit alleges that on Oct. 10, DeMattia faced a margin call on a personal loan and used Stream protocol assets when it was underfunded.
Stream Finance founders sue partners for misappropriating $93 million in agreement funds
2025-12-12 02:57:28
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