Kathleen Breitman, co-founder of the self-government protocol Blockchain Tezos, has promised to “become a thug” and launch the platform in several weeks, despite ongoing legal proceedings in the project. The announcement took place at the Cyber Days conference organized by UCLA Blockchain Lab on February 17 and 18.
Tezos raised a record $ 232 million in its Initial Coin Offering (ICO) in July 2017. The project has been subject to review and multiple lawsuits over the issue of its compliance with the Securities and Exchange Commission (SEC) regulations, among other things.
It is alleged that the tokens sold to US investors during the ICO of Tezos were in fact securities. Since the company did not register them with the SEC, this would constitute securities fraud.
However, at a UCLA conference that took place last weekend, Kathleen Breitman promised to “[go] thugs in the coming weeks” and release the “tezzies” tokens “(XTZ) on their own terms, despite the legal problems. “Things had to move forward, it’s unfair, but we have to ship the code,” added Mr. Breitman
Notably, Tezos is run separately, with Kathleen Breitman and her husband and co-founder Arthur Breitman controlling the source code of the project, and the Tezos Foundation control all the funds collected during the ICO.