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Not Encouraging News For Elio Coin

Discussion in 'In The News' started by Bilbo B, May 10, 2019.

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  1. Bilbo B

    Bilbo B Elio Addict

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    Google pushed this article to me this morning:

    https://www.coindesk.com/hong-kong-...verstock-investment-ends-with-5-million-close

    Some of the more interesting bits:

    "The original deal with GSR, announced last summer, was expected to bring $404 million to tZERO, but was postponed several times and downsized to $100 million in March, and then to $30 million in April."

    "Instead of buying $30 million of tZERO tokens, as previously agreed, the Hong Kong private equity fund invested just $5 million in tZERO equity, in the traditional form"

    "Elio Motors, a car manufacturer that Byrne has previously said was working on a token issuance with tZERO, will not be among the first issuers on the platform, Noursalehi said. Elio wants to code a more complicated functionality into their tokens, like allowing token holders to get their ordered cars faster, and working on that will take more time, he explained. By the end of this year, tZERO hopes to get up to 10 tokens traded on its alternative trading system (ATS)."


    The way I read that, it will be at least 2020 before there is an Elio Coin.

    It would be nice to hear this sort of stuff directly from Paul/EM. Who knows how accurate this is, but it's all we've got. Getting the announcement/update from Elio would ensure they could spin it their way. I don't buy the whole "The SEC won't let us talk about it" bit. tZERO is talking about it.
     

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