According to Foresight News, Dragonfly partner Tom Schmidt criticized Nova Markets' recent funding announcement, calling the team "blatant liars" and stating that participating investment firms "failed to conduct basic due diligence." Schmidt further alleged that some investor names belong to legacy entities rather than new capital deployments, describing this as a typical pattern of fraudulent operation.
Nova Markets had announced completion of its latest funding round with participation from Wintermute, Robot Ventures, Big Brain Holdings, Cumberland, GSR, Greenfield Capital, hash3xyz, Bodhi Ventures, and Kairos Research.