Astra Protocol, linked to Mick Mulvaney, faces investor backlash due to poor communication.

A group of investors sent a letter to Astra Protocol expressing serious concerns about the company and its token, ASTRA. They demanded a meeting with management within 48 hours or they would make their concerns public. Astra Protocol is a Switzerland-based company that offers a platform with Know-Your-Customer (KYC) and Anti-Money Laundering services. The investors highlighted suspicious token movements and a lack of engagement with its investors as their core concerns. The investors claimed that they had tried to engage with Astra repeatedly to resolve the issues without success. The letter ends with a request for a joint call within 48 hours to discuss the concerns in detail, or they would initiate a joint publication airing their concerns about the project and its team.

The names signed in the letter included Shima Capital, Huobi, Moonlight Capital and Republic among others. The investors also expressed other concerns regarding strategic decisions such as a sudden six-month extension to the cliff for all investors. The group notes that the ASTRA token price sits well below the price that investors paid with no apparent signs of a recovery. ASTRA was trading up nearly 60% to $0.02835 in the past 24 hours at the time of publication.

CoinDesk reached out to Astra Protocol for comment but had not received a response by publication time. The warning period expired on June 13, and blockchain has no knowledge of whether any talks took place during that time.