Tezos Cryptocurrency Founders Settle With Investors for $25 Million

SAN FRANCISCO (CN) – Investors dissatisfied with the blockchain platform Tezos moved Friday to settle a raft of lawsuits against the company and its co-founders for $25 million.

The money purports to resolve all pending litigation against Arthur and Kathleen Breitman, their company Dynamic Ledger Solutions, and Tezos Stiftung (Tezos Foundation), a Switzerland-based nonprofit that controls the money.

In the summer of 2017, the Breitmans raised the equivalent of $232 million from investors for Tezos, a virtual ledger (blockchain) that keeps track of a digital currency called “tez,” “tezzie,” or “tokens.”

Investors purchased tokens using bitcoin and Ethereum – a crowdfunding method known as an “initial coin offering.”

In October 2017, a media outlet reported on rumored infighting between the Breitmans and Tezos Foundation president Johann Gevers. Tezos oversaw the fundraiser.

Investors began to fear that the blockchain project would be delayed and that they…