Quinn Thompson Raises Red Flags on Ondo Finance Amidst Mantra Token Fallout

Following the recent crypto scandal surrounding the Mantra token, Quinn Thompson, founder and Chief Investment Officer of Lekker Capital, has renewed his concerns about another RWA project, Ondo Finance (ONDO). In a tweet on X, Thompson highlighted the potential risks associated with Ondo Finance, stating that investors should consider revisiting his earlier warnings about similar risks. Thompson resurfaced his previous thread from March 18, where he questioned if Ondo Finance’s Total Value Locked (TVL) is artificially inflated by the team selling tokens and redirecting proceeds back into the protocol to create a false impression of organic user adoption.