The team behind the Solana-based SANAE token, led by the NoBorder project and entrepreneur Yuji Mizoguchi, issued a public apology following communication failures that inadvertently involved Japan’s Prime Minister, Sanae Takaichi. After reaching a market capitalization of $27.7 million and subsequently plummeting, the organizers took full responsibility for the confusion caused among investors and the government office.
This news had an immediate impact, especially after the stateswoman denied any link to the asset, which heightened concerns regarding wallet concentration. In response to the price collapse and public scrutiny, the team executed a snapshot on March 4 to identify affected holders and proceed with a compensation plan aimed at mitigating financial losses.
The next step for the project includes a radical name change, a deep review of its operational structure, and the creation of an expert committee to ensure future transparency. Investors should closely monitor the final details of the compensation plan and potential intervention by Japanese financial authorities, while the team maintains that liquidity keys have been burned to demonstrate their good faith.
Source:https://x.com/mizoguchi_yuji/status/2029043531646681186
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