Tezos Investors Win $25M Settlement in Court Case Over $230M ICO

A lawsuit alleging the Tezos initial coin offering (ICO) – that raised $232 million in 2017 – was an unregistered securities sale has been settled.

UPDATE (Sept. 2, 19:35 UTC): An earlier version of this article stated that the Breitmans would pay part of the settlement, based on a passage in court documents. The couple’s representative later said the foundation is footing the entire bill.

UPDATE (Sept. 1, 14:20 UTC): This article has been updated to clarify that the Tezos Foundation paid the $25 million settlement.