/biz/ - Business & Finance

>>59532666
>Please explain the mechanisms of the "scam" when the coin was distributed for free
Oh, so Colin finally agreed to have an audit on his Nano distribution now? So we finally can understand how Colin and his friends had tens of millions of Nano, each, that they concealed from the community and dumped on the community for years, while lying through their teeth about Nano tps?

>>57720881
>Thanks for the money, nano schmucks.

Nano foundation has no more money, they took out a loan on their dev wallet and did not inform the market that they are (de facto) bankrupt. Colin and George are now working as unpaid volunteers for the time being, and nobody knows for how long. They way they have treated the market and investors, I would guess a few months with less and less engagement and then they are out, with their $ tens of millions they got after dumping hard on their investors for years.

https://www.reddit.com/r/nanocurrency/comments/174quuu/the_nano_foundation_takes_a_step_forward_on_its/

>They have no money left:
We do not want to kick-start a countdown so-to-speak of the last Ӿ300,000 which currently equals $188K so you will see the current funds being moved from the publicly available data - these funds have been loaned against over the year as our US bank of Silvergate was shutdown, not allowing us to liquidate with safe compliance and will be used to repay creditors.

This /biz/ thread was the beginning of the end for them:
>>/biz/thread/16596049