RE: A Reminder1 Apr 2026 13:10
You’re reaching again. What does UAB micar have to do with this, lol UAB micar got the 4the ever license in LT in MiCA GS fintech didnt even get past first base.
Comparing Melvin Chan’s dual role at Semnet with the joint CEO setup at a well-funded Lithuanian (UAB Micar / Myriad) is not the same thing at all.
Those Lithuanian companies are properly capitalised, have dedicated executive teams, and the joint CEO structure was clearly defined with clear division of responsibilities.
Melvin Chan is listed as CEO of Semnet (a small, loss-making subsidiary) while simultaneously being Co-Founder & Director of IMGT Capital — his own wealth management / family office business. That’s a very different situation.
You say IMGT “doesn’t describe any day-to-day responsibilities”. That’s exactly the problem. Family offices don’t run themselves. Client acquisition, deal structuring, wealth planning, and compliance are all time-intensive. Pretending this is just a passive directorship is unrealistic.
And no — the recent Semnet white paper doesn’t prove he’s fully committed. One document doesn’t change the fact that he’s splitting his attention between two separate businesses.
My point remains simple and unchanged, Semnet is a small company trying to grow in a competitive sector. It needs a fully dedicated CEO, not someone dividing his time between running Semnet and building his own wealth management firm.That’s not an “unfounded assumption”. It’s basic business reality.