If you have invested in the Tezos crowdsale and/or have been following the drama there, you are probably wondering what is the present situation. Bitcoin Suisse AG issued a "Statement Concerning The Tezos Crowd Contribution And The Tezos Foundation". The link is below.
Basically they state that to the best of their knowledge there has been no mismanagement of funds. There has been some internal squabbles but that doesn't fall in their realm of their responsibility.
IMO, for right now, the main thing is that the funds are safe, which Bitcoin Suisse AG confirmed. Here's why:
This is what Tezos raised during their Crowdsale (ICO) and it's present value. They probably cashed in some coins to pay expenses but this is what the totals would be:
The amt of coins raised and prices right now BTC = $16,000; ETH = $975 (BTC was about $2,600 when the crowdsale was started)
BTC 65,703 = $1,051,248,000
ETH 361,122 = $352,093,950
Total = $1,403,341,950
$1.4 Billion.....That is an insanely large amount of money for a startup to be sitting on; especially since Tezos hasn't implemented a working project yet.
Tezos (XTZ) price right now as a futures = $6.47. while during the crowdsale it was $.42
Of course the XTZ isn't trade-able yet, so we have to see at what state everything is in when XTZ becomes trade-able. Until then we HODL and BTC Suisse can monitor.....and Yodel. :-) Just a joke - actually, they are doing a good job.
Bitcoin Suisse AG - Statement Concerning The Tezos Crowd Contribution And The Tezos Foundation by Bitcoin Suisse AG
http://fintechnews.ch/blockchain_bitcoin/statement-concerning-tezos-crowd-contribution-tezos-foundation/14375/
