The embattled Tezos Foundation is facing a welter of criticism
Reuters
A federal judge in California says he will not grant a temporary freeze of the bank accounts of the cryptocurrency Tezos’s blockchain project.
This content was published on
1 minute
swissinfo.ch with agencies/ug
The judge is quoted as saying the management structure overseeing the Swiss-based foundation is in turmoil, but he is apparently unwilling to approve a request by investors for an emergency bid.
Bruce MacDonald, who brought Tezos tokens during an initial coin offering (ICO), filed a proposed class action suit last week. He claims that the ICO in July amounted to an unqualified sale of securities.
Tezos is facing at least four lawsuits in the United States, including a bid to block an estimated $1billion (CHF990 million) of investor assets.
The blockchain project has been thrown into turmoil following a row between the Tezos foundation president Johann Gevers and Kathleen and Arthur Breitman, founders of the Tezos project, their company Dynamic Ledger Solutions as well as venture capitalist Tim Draper, a large investor in Tezos.
More
More
Lawsuit seeks freezing of Tezos Foundation assets
This content was published on
Law firm Block & Leviton argues that the recent departure of a Tezos Foundation director and the apparent replacement of the entity’s auditor gives weight to its demand for funds, derived from an initial public offering (ICO) in July, to be frozen. “The situation regarding the ICO proceeds has deteriorated further, making irreparable looting an…
You can find an overview of ongoing debates with our journalists here. Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.
Read more
More
Tezos Foundation probe ‘set to clear president Gevers’
This content was published on
Although the foundation’s probe has yet to be finalised, information received by swissinfo.ch indicates that an independent audit appears to offer no evidence that Gevers tried to manipulate a bonus payment to himself earlier this year. The audit may also show that Gevers has no case to answer against other allegations that surfaced in October. An…
Breitman gives nothing away as Tezos saga rumbles on
This content was published on
Breitman gave the impression of ‘business as usual’ as he updated eager investors, packed in the city’s Volkshaus, about technical developments to the blockchain smart contract system. The message was clear: while the Zug-based foundation may be shaking under the weight of allegations of financial misconduct, the business end of Tezos – Dynamic Ledger Solutions…
This content was published on
The public fall-out between the Tezos project’s founders, Arthur and Kathleen Breitman, and Johann Gevers, the president of the foundation created to spend the vast sums raised from the public in the summer, will make some already wary people even more nervous. On Wednesday, the Breitmans published a damning attack on a perceived lack of activity…
You can find an overview of ongoing debates with our journalists here. Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.