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GTR can reveal. Shares in the Singapore-based fintech plummeted in January after US short sellers claimed nearly two-thirds of Kratos transactions between June 2019 and August 2020 were carried out by companies The short seller report, published by newly formed hedge fund Phase 2 Partners, said it analysed records of Triterras transactions that are stored on the Ethereum blockchain, and produced data on who is using the platform, what cargo is being traded and the value of those sales. Based on that research, it claimed that the number of active participants on the Kratos platform was far lo...

Already facing legal challenges over the extent of its ties to Rhodium Resources, Singapore-based Triterras saw its share price plunge by around 25% on January 15 following the publication of a short seller report by hedge fund Phase 2 Partners. Following analysis of transactions recorded publicly on the Ethereum blockchain, the fund alleges that nearly two-thirds of Kratos-based trades between June 2019 and August 2020 were carried out by companies controlled by Srinivas Koneru and Rick Maurer. Koneru is chairman and chief executive of Triterras, as well as the founder and CEO of Singapore-...