Compound founder to relinquish bid for control of LQR House

Foresight News reported that Robert Leshner, founder of Compound and Superstate, announced on Twitter that he will relinquish his bid for control of LQR House, a publicly listed U.S. alcoholic beverage company. Due to the company’s ongoing issuance of new shares, which has diluted shareholder equity, his stake no longer provides effective control. He also stated that he will not initiate any proxy or legal action, and plans to recommend community experts to LQR to help them establish a crypto treasury.

Previously, Robert Leshner acquired approximately 56.9% of LQR House’s shares for around $2.03 million of his personal funds, becoming the controlling shareholder.