Billionaire Crypto Bull Thiel’s Block.one Seed Shares Reap Staggering 6,500% Profit
By CCN: Block.one is returning jaw-dropping profits to its earliest investors like Peter Thiel. It’s a stock buyback of epic speed and proportions.
In only three years the blockchain startup is buying back shares sold in a seed round of funding in 2017. The ROI for anyone who cashes out will be as much as 6,567%.
Where did Block.one come up with all that money in so little time? It executed the biggest ICO in cryptocurrency history. The company raised $4 billion over a year-long token sale of EOS coins to power Block.one’s EOS.IO blockchain.
The year-long crowd-funded token sale of EOS concluded in June 2018. That month Block.one launched the open source software to run EOS.IO.
Other Blockchain Startups Are Suffering Layoffs
While many blockchain companies struggle to recover from crypto winter, Block.one is one of crypto’s greatest success stories so far. | Image: Media file
Ever since the brutal crypto winter of 2018, other blockchain startups are struggling.
Last month Coinbase cut 30 engineers from its payroll and closed its Chicago office. In January and February a Cleveland-based voting blockchain company named Votem Corp laid off over 60 workers. Last December Ethereum Classic’s dev team had to ask for donations to continue working after running out of funds.
