Aptos
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Aptos is a Layer-1 proof-of-stake blockchain founded in 2021 by Mo Shaikh and Avery Ching, former employees of Meta's Diem (Libra) project, using the Move programming language originally developed for Diem. The project raised $350 million across two rounds in 2022 from investors including a16z, FTX Ventures, Jump Crypto, and Three Arrows Capital, launching its mainnet in October 2022 amid significant criticism over opaque tokenomics, low initial throughput, and heavy insider allocations. While Aptos has since grown its DeFi TVL above $1 billion, attracted institutional partnerships with BlackRock, Microsoft, and Brevan Howard, and received digital commodity classification from the SEC and CFTC in 2026, early controversies around token distribution, FTX investor exposure, a 5-hour network outage in October 2023, and the departure of co-founder CEO Mo Shaikh in December 2024 remain part of the project's documented record.
Connected Entities
11 entities · 60 linked investigations- Ethereum→mentioned with→Coinbase(60%)
- Ethereum→mentioned with→Bitcoin(60%)
- Aptos→mentioned with→Ethereum(80%)
- Aptos→mentioned with→Solana(65%)
- Aptos→mentioned with→Binance(70%)
- Aptos→mentioned with→Bitcoin(70%)
- Aptos→mentioned with→Upbit(70%)
- Libra / Diem→mentioned with→Coinbase(65%)
- Aptos→mentioned with→Coinbase(65%)
- Binance→mentioned with→Ethereum(65%)
- + 10 more
Timeline(28 events)
2018
Meta Platforms begins development of the Libra (later Diem) blockchain project. Mo Shaikh and Avery Ching join the initiative.
The BlockJune 2019
Facebook publicly announces the Libra project, proposing a global stablecoin backed by a basket of currencies. The project faces immediate regulatory resistance.
Medium / AptoselleDecember 2020
Facebook's Libra project is rebranded to Diem. The Move programming language, developed for the project, continues development.
Finance Feeds2021
Mo Shaikh and Avery Ching found Aptos Labs before Diem's formal shutdown, with plans to build an independent L1 blockchain using the Move language.
Fortune2022
Meta sells Diem's intellectual property to Silvergate Capital. Diem is formally discontinued without ever processing a live transaction.
Silicon Angle15 March 2022
Aptos Labs closes a $200 million strategic funding round led by a16z, with participation from Tiger Global, Multicoin Capital, Three Arrows Capital, FTX Ventures, and Coinbase Ventures.
TechCrunchJuly 2022
Three Arrows Capital collapses and files for Chapter 15 bankruptcy in New York. 3AC held an estimated $31.7 million in APT tokens at December 2022 prices.
Pontem Network7 July 2022
Shari Glazer and Swoon Capital file a $1 billion lawsuit against Aptos CEO Mo Shaikh, alleging she was deprived of a 50/50 founder equity stake in the venture.
The Block25 July 2022
Aptos Labs closes a $150 million Series A round led by FTX Ventures and Jump Crypto, at a $2 billion valuation. Total 2022 fundraising reaches $350 million.
CoinDesk12 October 2022
Numen Cyber Labs discloses a critical integer overflow vulnerability in the Aptos MoveVM stack verification module capable of crashing all network nodes. The vulnerability is patched.
The Hacker News17 October 2022
Aptos mainnet officially launches. APT token begins trading on Binance and other major exchanges at approximately $8.50. Initial TPS measured at approximately 4, well below Bitcoin's ~7 TPS. Token price drops approximately 50% on launch day.
CoinDesk18 October 2022
Aptos publishes tokenomics details. Crypto community criticizes the 49% combined allocation to investors and core contributors. Cobie and other prominent commentators call out the lack of pre-launch transparency.
CoinDesk11 November 2022
FTX and affiliated entities including FTX Ventures collapse amid fraud allegations. Aptos issues a statement confirming no Aptos Labs or Foundation treasury funds are held at FTX.
AMBCrypto26 January 2023
APT reaches its all-time high price of approximately $20.39 following news of partnerships and increased network adoption.
CoinGeckoMarch 2023
Court denies Mo Shaikh's motion to dismiss the $1 billion Glazer lawsuit, allowing the case to proceed.
The Block7 July 2023
The official Twitter accounts of the Aptos Foundation and CEO Mo Shaikh are compromised. Attackers post phishing links promoting a fake APT airdrop to approximately 393,000 followers.
The Block21 September 2023
Scammers create a counterfeit APT token named 'ClaimAPTGift.com' and airdrop it to approximately 400,000 Aptos wallets as part of a phishing campaign.
CoinDesk25 September 2023
Upbit, South Korea's largest crypto exchange, suspends APT deposits and withdrawals after a bug causes the exchange to accept counterfeit APT tokens as genuine, affecting approximately 100,000 accounts.
Blockworks18 October 2023
Aptos mainnet suffers a 5-hour 15-minute outage triggered by non-deterministic code introduced in an August 2022 commit, combined with a FeeStatement event deployed days earlier. No transactions are lost. The incident occurs exactly one year after mainnet launch.
Aptos Network (official incident report)November 2023
The $1 billion Glazer v. Shaikh lawsuit is resolved. Terms are not publicly disclosed. Shari Glazer states she is 'happy to resolve this matter.'
The Block18 April 2024
Aptos Labs announces Aptos Ascend, an institutional DeFi platform built in partnership with Microsoft, Brevan Howard, SK Telecom, and Boston Consulting Group.
CoinDeskNovember 2024
BlackRock's BUIDL tokenized fund expands to Aptos with $500 million in assets under tokenization, making Aptos the third-largest blockchain for real-world asset (RWA) tokenization.
VentureBurn19 December 2024
Mo Shaikh steps down as CEO of Aptos Labs. Co-founder Avery Ching succeeds him as CEO. Shaikh remains a strategic adviser.
CoinDesk2025
Aptos introduces the Zaptos architecture, achieving sub-second latency at 20,000 TPS in geo-distributed tests across 100 validators.
Disruption Banking2026
Bitnomial launches U.S.-regulated APT futures on CFTC-sanctioned venues, providing institutional access to Aptos exposure.
AInvest19 February 2026
Aptos announces a tokenomics overhaul introducing a 2.1 billion APT hard cap, reduced staking yields, increased gas fees with buyback-and-burn mechanics, and permanent locking of 210 million Foundation tokens.
The DefiantMarch 2026
The SEC and CFTC jointly issue a digital asset taxonomy that classifies APT as a digital commodity alongside Bitcoin, Ethereum, Solana, and 12 other assets — removing APT from securities law gray zone.
CoinPediaDecision Log
- hash: BbCFa6DPGZvA2RfVqpSGzww9zRe4Zyr5ahLmwXfAAM1i
- hash: DywzjTYZnAcsrdFunoZfpWFFRfmgrsgGWRVaBNDLUH3t
- hash: HvCSk6jfuiMasJHTmZtGNqBwbgc1crhxBZhjMa4JWikA
This investigation is cryptographically anchored to the Solana blockchain (3 events). 31 of 37 cited source URLs have an Internet Archive snapshot.
model: claude-code-investigator
generated: 5/13/2026, 1:32:29 PM
last updated: 7/26/2026, 12:05:36 AM
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