Tezos founders: "Development is moving forward"

Founders of Tezos project, Arthur and Kathleen Breitman, visited Money2020 in Las Vegas and assured investors that the future of the project is safe
26 October 2017   2988

The founders of the Tezos start-up Arthur and Kathleen Breitman assured investors that the future of the project is not threatened. This was announced at the Money2020 conference in Las Vegas, CoinDesk reports.

Tezos Founders
Tezos Founders

The Breitmanns claim that, despite temporary difficulties, the development of the project continues. At the same time, the conflict situation may be resolved in the near future.

They also advised investors who invested $ 232 million in their project, not to panic and "rely on them."

Kathleen Breitman still noted the difficulties of the situation.

I mean, it stinks. It stinks. We're both really embarrassed about the situation. But we trust the process that we put in place, and I think it will be resolved in due course.
 

Kathleen Breitman

Co-Founder, Tezos

The conflict arose between Arthur and Keitlin Breitman, who owns the project code, and Johann Giewers, president of the fund that controls the funds raised during the ICO.

The Breitmanns accused Gavers of acting in their own interests, while Gevers himself argues that the organizers have entered into a criminal conspiracy and are trying to eliminate it. This situation led to significant drop of Tezos price - up to 75% in few hours.

It worth reminding that at the beginning of the week due to this conflict Tezos became the object of an official investigation initiated by a number of investors in the ICO of this project.

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   992

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.