The three co-founders of xStocks' parent company, Backed, previously worked at the now-defunct DAOstack.

According to LinkedIn data, the three co-founders of Backed Finance, the company behind the stock tokenization platform xStocks, namely Adam Levi Ph.D., Yehonatan Goldman, and Roberto Klein, have all been confirmed to have worked at the bankrupt DAOstack. Among them, Adam Levi Ph.D. was a co-founder of DAOstack, Yehonatan Goldman was the COO of DAOstack, and Roberto Klein was responsible for legal and regulatory affairs at DAOstack. ICO Drops data shows that DAOstack raised approximately $30.000.000 million in multiple rounds of financing from the fourth quarter of 2017 to May 2018, and closed at the end of 2022 due to financial exhaustion. [Foresight News]