TenX President to Resign due to Lyoness Scandal

Hosp tried to delete all the public data linking him to Lyoness but one “training” video, voiced by Julian was found
10 January 2019   1856

Co-founder and president of TenO's ICO startup, Julian Hosp left his post. From now on, the company will be solely managed by CEO Toby Hoenish.

Note that from 2011 to 2015, Julian Hosp was a “member” of the Lyoness financial pyramid. In the company he was engaged in marketing, sales, held lectures for other participants of the company.

Before the ICO of the TenX project, Josp tried to delete all the public data linking him to Lyoness.

According to Breaker, Lyoness is recognized as an illegal fraudulent scheme by the Supreme Court of Switzerland, the Austrian civil court and the Norwegian Gambling Council. About the connection of Josp with the project it became known thanks to the “training” video from Lyoness, allegedly voiced by him.

Neo Foundation to Withdraw $11M From Cold Wallet

These funds will be used to finance its operations in currrent reporting year and $190M are stiill in the vault
26 March 2020   891

On March 25, the Neo Foundation announced the withdrawal of 1,660,865 NEO ($ 11 million) from the cold wallet to finance its activities in the current reporting year. About $ 190 million are still in reserves.

According to rules established in the Neo White Paper, the NEO tokens maintained by the Neo Foundation are mainly used to continuously support Neo's technological development, ecosystem growth, community expansion and the normal operations of the foundation and related organizations. 

 

Neo Foundation

According to the publication, 1,660,865 NEOs were transferred “from a blocked account to a current account”. As the information on the blockchain shows, these funds were directed to an address containing 14.6 million NEO or about $ 100 million. The project does not disclose who controls this address and what fate awaits the released tokens.

White paper Neo suggests that project costs in any given year should not exceed 15 million tokens. In the near future, a financial report for 2019 will be published.

At the time of publication, NEO is the 23rd largest asset on the market with a capitalization of $ 479 million. The price of one NEO is $ 6.79.