Tezos, which succeeded in financing a whopping US $ 232 million in
July 2017 is purportedly battling internal strife as of October. Token
News spoke to Tezos sources to get the facts surrounding this
Tezos originally carried out its fundraiser (ICO) based in Switzerland
and kept the funds at the Tezos Foundation, based in Zug,
Switzerland. However, president of the board Johann Gevers recently
received a 46 page request for dismissal through his lawyer, signed by
Tezos founders Arthur and Kathleen Breitman.
Johann Gevers served as president of the board of Tezos Foundation, and helped successfully promote the Tezos network to various markets. So why the sudden change of heart?
According to Reuters, Arthur and Kathleen Breitman’s lawyer demandedv Gevers’ dismissal and sought to give the couple “a real role” in a new structure, thus limiting the Foundation’s responsibilities.
We confirmed this report from Tezos engineer Vincent from our upcoming interview: “As all decisions and actions related to the project seemed to take forever, I felt there was an issue somewhere. However, as of now, this seemed solved as we just moved to new offices, hired 2 new engineers, and the work has resumed at full speed. It is true that we incurred a two months delay in the development due to organisational issues, but I believe all is resolved now.”
At first glance for investors, this news report seems like cause for concern, but it appears that Tezos is handling the issue internally and managing any fallout appropriately.
This project showed a great deal of potential during its ICO, so Token News will continue to report on its development.