As Tezos faces a public lawsuit from its ICO investors, Alex Tapscott’s NextBlock Global has opted to return funds to investors.
In a further hurdle on ICOs’ path to legitimacy, the startup announced Sunday it had made the decision after Forbes broke a scandal about it inventing ‘advisors.’
“As a young company, we have stumbled in our efforts to take our company public and we will work hard to rebuild the trust of those we have disappointed,” a press release reads.
NextBlock had stated Civic CEO Vinny Lingham and federal prosecutor Kathryn Haun – now on Coinbase’s executive board – were advising the project. This was not true, but Tapscott responded to Lingham denying the claims even as Lingham himself “was looking at the deck with his face and bio” on NextBlock’s website…
Read Full: New ICO Scandal: Alex Tapscott Namedrop Blunder Sees Startup Refund All ICO Cash