TexasTesla
Elio Addict
The trading platform for ElioCoin is running into funding issues.
A long-awaited capital infusion for Overstock and its tZERO security token platform has been delayed again, and significantly downsized.
GSR Capital, a Hong Kong-based private equity firm, was supposed to close the investment on Feb. 28. But on Friday, Overstock said the deal had not closed, and that the delayed funding agreement has been reduced by more than 75%.
Currently, the tZero STO tokens are traded on tZERO’s alternative trading system at just $3.50 per token. The tZERO STO token were originally sold to investors at $10 in 2018.
Traders who invested in tZERO STO tokens have been waiting for news about the deal for several months, expecting it to boost the falling price of their tokens. But, Friday’s announcement left many investors disappointed.
“The news is disheartening,” said token investor Sean LaFlamme. “If I’m not sure tZERO is adequately funded, I won’t be putting further investment in it.”
A long-awaited capital infusion for Overstock and its tZERO security token platform has been delayed again, and significantly downsized.
GSR Capital, a Hong Kong-based private equity firm, was supposed to close the investment on Feb. 28. But on Friday, Overstock said the deal had not closed, and that the delayed funding agreement has been reduced by more than 75%.
Currently, the tZero STO tokens are traded on tZERO’s alternative trading system at just $3.50 per token. The tZERO STO token were originally sold to investors at $10 in 2018.
Traders who invested in tZERO STO tokens have been waiting for news about the deal for several months, expecting it to boost the falling price of their tokens. But, Friday’s announcement left many investors disappointed.
“The news is disheartening,” said token investor Sean LaFlamme. “If I’m not sure tZERO is adequately funded, I won’t be putting further investment in it.”
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