PANews reported on July 15 that Aqua1 Foundation issued a statement in response to recent rumors about its team and operations. The statement said that Dave Lee joined Aqua1 as co-founder and CEO in April 2025 and was highly aligned with the team's long-term vision. Aqua1 emphasized that it operates independently and has no equity, financial or operational ties with any unrelated entity. The team is working with Middle Eastern institutions to advance the project, but some details have not been made public due to compliance requirements.

In addition, Web3Port responded to PANews that the fund has no connection with Aqua1 and has not been banned by any exchange.

According to previous news, Aqua 1, which had previously invested $100 million in WLFI governance tokens, was revealed to be associated with Web3port .