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tZERO: why investors are leaving the platform

27 August 2019

tZERO: why investors are leaving the platform

Many people know that Patrick Byrne, who is the founder Overstock, left the tZERO platform, after which the position of the company has changed significantly. The problem is that Singapore investment Fund Makara Capital will no longer invest in trading security tokens - this was stated by Jonathan Jones, who performs temporary duties of the head of the company Overstock.

 

All the negative events caused that company founder Patrick Byrne announced his retirement. The reason for this statement was publicized affair Marie Boutin, which entailed a series of gossips and scandals. We remind you that Maria is serving a prison sentence, and this behavior is the Executive Director cannot go unnoticed.

 

After the scandal investment company GSR tZERO Capital refused to invest 100 million USD. The Chinese company considered that the investment irrational, so the decision was made to close the deal in time, however, the time it was not possible.

 

We remind that last year the GSR had a significant Capital views the purchase of shares of the company tZERO. Under the agreement, the Chinese firm undertook to acquire shares of the company Overstock worth more than 270 million USD, and the price of tokens tZERO was in the amount of 30 million USD. The transaction process was delayed, initially, the purchase was scheduled for December 2019, however, the GSR Capital was asked to bring the purchase in February 2020.

 

This postponement of the period was unfavorable to tZERO, which has led to the emergence of new investors. In the form of new investors was the company Makara Capital, then tZERO freed the company GSR Capital from previous agreements. The success was tremendous, the company tZERO has received 1 million USD, 1 million Chinese yuan and a package of securities worth more than 3 million USD.