EOS Network Participants Should Consider Legal Action Against Block.one: EOS Foundation CEO
EOS Network participants should consider taking legal action against major investor Block.one (B1) for "broken promises" over its investment in the ecosystem, according to the founder of the EOS Network Foundation. Yves La Rose said legal action is one of two possible ways to hold B1 to account for not investing the $1 billion it promised during the network's initial coin offering (ICO) in January 2018.
The other option is a hard fork to exclude EOS tokens held by B1 to fully disassociate itself from its former backer. "As a result of B1’s broken promises, the EOS Network is under-capitalized and the development of the EOS Network has been significantly stunted," La Rose wrote in a letter dated May 20. EOS token holders purchased their tokens "relying on representations of ongoing investment in the EOS ecosystem," which never came leading one to conclusion that B1 never intended to make the promised investments, according to La Rose. The EOS token is currently trading at $0.85 having slumped by 32% since April 14.
Source
https://t.me/DeFi_Ethereum
