VeChain Faces Investor Scrutiny Over Ownership Transparency and Governance Concerns

• Andrea questions VeChain Foundation’s ownership, asking why Okusami srl acts as a trustee for 86.6% of its shares.
• Transparency concerns arise over the Steering Committee’s role and whether its governance meetings are properly documented.
• Andrea seeks clarity on VeChain’s legal entities beyond Singapore and San Marino, questioning their impact on decision-making.

Andrea, an active investor and supporter of VeChain, recently posed critical questions to Jake, VeChain’s Communications Lead and Community Advocate. These questions were directed toward the foundation’s structure and transparency during a public challenge initiated by Jake, in response to community concerns. 

The exchange took place during an official monthly VeChain updates session, hosted by community legends Connor and Mikey, with a segment dedicated to community inquiries. Andrea’s focus centered around the governance and operational transparency of the VeChain Foundation, notably emphasizing investor concerns.

Transparency and Ownership

One of the main points Andrea raised relates to the ownership structure of the VeChain Foundation in San Marino. Andrea questioned whether the foundation is a private entity and asked for clarification on why it operates as such if confirmed. 

Additionally, she sought transparency regarding the foundation’s ownership. According to existing data, 13.4% of the foundation is owned by VeChain Foundation Singapore, while 86.6% is held by Okusami srl, a trustee organization. 

Andrea asked for details regarding the individuals or groups behind Okusami and questioned the necessity of a trustee. This question notably stems from the previous trustee role held by Banca Agricola Commerciale.

Clarifying Beneficiary and Legal Entity Questions

Further, Andrea asked for clarity about the ultimate beneficiary and why the 86.6% stake was transferred to Okusami srl. Notably, she emphasized the need for transparency on which legal entities are involved in VeChain’s operations beyond those in Singapore and San Marino. This inquiry reflects concerns over whether additional entities play a role in shaping VeChain’s direction and management, something that had not been clarified previously.

Governance and Steering Committee Procedures

Andrea’s inquiry did not stop at ownership. She also asked about the governance of VeChain’s Steering Committee, specifically its role in relation to the board of directors. She requested information on how often the Steering Committee meets and whether the meetings adhere to governance procedures. 

Notably, she emphasized the need for documentation and meeting minutes to be accessible. Additionally, Andrea sought clarification regarding the launch of VeBetterDAO, questioning its backing by the Foundation and the extent of VeChain’s investment in the project.