Solana News Today: BlockDAG's $435M Presale Under Fire as Founder Allegations Threaten Credibility

Blockchain project BlockDAG, which has raised nearly $435 million in a presale that began in early 2024, is under fire after prominent crypto investigator ZachXBT accused the firm's publicly listed CEO of being a front for a founder with a controversial history in fintech and crypto. The allegations, which emerged as the project promotes its "Value Era" campaign, have cast doubt on BlockDAG's leadership and the legitimacy of its ongoing presale.

ZachXBT, known for exposing fraudulent crypto ventures, claimed on X that Antony Turner, BlockDAG's named CEO, is a paid representative for Gurhan Kiziloz, a British entrepreneur previously linked to failed fintech startups and the now-defunct meme coin Big Eyes Coin. Kiziloz's name is reportedly banned in BlockDAG's Telegram group, with mentions automatically deleted or users restricted. The project, which claims to merge Directed Acyclic Graph (DAG) technology with Proof-of-Work mining for scalability, has yet to deliver a mainnet or confirm exchange listings despite repeated delays to its token launch.

BlockDAG's presale, now in its 32nd batch, continues to sell tokens at $0.005, with over 312,000 holders and 27 billion coins sold. The project has postponed its public launch indefinitely, drawing criticism for sustained marketing tactics that keep the presale open while avoiding transparency. Critics argue this strategy fuels hype without accountability, as the team has yet to publish final tokenomics or provide verifiable progress reports.

Despite the controversy, BlockDAG has positioned itself as a major player in 2025's crypto landscape. The project recently announced a BWT Alpine Formula 1® Team partnership, a collaboration that includes global branding across Grand Prix events and a planned listing on February 10, 2026, at $0.05 per token. The partnership, coupled with over $435 million in presale funds, has drawn comparisons to top-performing Layer-1 blockchains.

However, skepticism persists. Trustpilot reviews show nearly 60% of users rate the project negatively, citing repeated delays and unclear communication. Meanwhile, audit gaps-Halborn and CertiK reportedly reviewed only vesting contracts-have amplified concerns about the project's technical readiness.

BlockDAG's challenges contrast with broader market trends. Solana (SOL), for example, faces key resistance as its price continues to set lower highs despite strong fundamentals. The network's total value locked (TVL) remains near $11 billion, and a new Solana ETF in Hong Kong has added institutional exposure. Yet, SOL struggles to break above $200, reflecting broader uncertainty in the altcoin space.

In a market defined by liquidity and execution, BlockDAG's presale strategy and partnerships aim to position it as a leader in 2025. The project's liquidity plan, which allocates a portion of presale funds to market-making and exchange listings on MEXC, LBank, and BitMart, is designed to ensure post-launch stability. With a growing user base of 3.5 million X1 miners and 20,000 active miners, BlockDAG claims to be "market-ready," though its credibility hinges on resolving the founder controversy and delivering on technical promises.

As the presale edges toward $600M, the coming months will test whether BlockDAG can transform speculation into sustainable adoption-or join the ranks of crypto projects derailed by governance and transparency issues.

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