American Lawyers Try to Organize ICO Investors to Sue Tezos

When any project which is worth a fortune is in trouble, opportunities arise for some people to profit. After reports that infighting had broken out amongst the Tezos leadership over the $400 million raised in its ICO, rumors surfaced in the cryptocurrency community forums that the company is under investigation, and with blood in the water the sharks come out fast.

Boston-based law firm Block & Leviton LLP announced on Friday the launch of an investigation on behalf of investors in the Tezos ICO. The lawyers call on anyone who invested in the Tezos ICO or whohas information relevant to their investigation to contact them. "Confidentiality for any whistleblowers or other persons with information relevant to the investigation is assured."

Founded by husband and wife team Arthur and Kathleen Breitman, Tezos is an independent Smart Contract Smart Contract A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist A smart contract is a piece of software that automatically executes a pre-determined set of actions when a certain set of criteria or met. One of the key tenets of smart contracts is their ability to perform credible transactions without third parties and are self-executing, with their conditions written into the lines of code that form themAdditionally, these transactions are both trackable and irreversible. For example, a smart contract could be used to give royalty payouts to a musical artist Read this Term platform built as an alternative to Ethereum Ethereum Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Ethereum is an open source, blockchain-based distributed computing platform and operating system featuring smart contract functionality. Created in 2014, Ethereum now stands as the second largest cryptocurrency by market cap at the time of writing.As a decentralized cryptocurrency network and software platform, Ethereum represents the most prominent altcoin. Ethereum also enables the creation Distributed Applications, or dapps. Understanding EthereumEthereum boasts its own programming language, Read this Term. It raised about $232 million three months ago which is now worth over $400 million (65,703 BTC + 361,122 ETH).

As previously reported, the Breitman couple are now locked in a legal battle against the president of a Swiss foundation that they established to handle the raised funds, Johann Gevers. Both sides accuse the other of having conflicts of interest while trying to control the ICO money. The structure of the holding management is under dispute, with the Breitmans trying to replace Gevers and gain more control over the way that the money is run through a new foundation that they wish to create.

It needs to be said that despite the rumors, there is still no official confirmation that the SEC is investigating the matter.