MonkeDAO launches probe amid allegations over treasury discrepancies

MonkeDAO, the community behind Solana’s Monkey Business Gen2 NFT collection, has launched an internal probe following allegations of treasury fund discrepancies.

MonkeDAO, the community that oversees Solana‘s NFT collection Monkey Business Gen2, has launched an internal probe following allegations concerning discrepancies in its treasury funds. The probe was announced by Ariel Givner, the DAO’s acting general counsel, in an X statement on Aug. 7 addressing the claims.

The investigation was triggered by X user @hankobaggins, who raised concerns over why approximately 586 SOL — or about half of the MonkeDAO validator earnings since December 2023 — had not been allocated to the treasury, sparking apprehension within the community regarding the management of funds.

“Our primary goal is to ensure transparency and accountability within our operations. We are committed to providing a detailed explanation and resolving any issues that may have occurred.”

Ariel Givner

Givner emphasized that MonkeDAO takes these claims “very seriously,” adding that the DAO is committed to transparency and accountability. The organization aims to resolve the issue promptly and provide a detailed explanation of any financial irregularities, she added.

Launched in 2021, MonkeDAO is a community of crypto investors backing the development of Solana Monkey Business, one of Solana’s pioneering NFT collections. Despite the recent incident, Solana Monkey Business NFT holders remain unfazed, with the price floor for an NFT rising 4% to 21.61 SOL, according to CoinGecko data.