EOS Foundation suing Block.one for $1 billion commitment breach
The EOS Network Foundation (ENF) is taking legal action against Block.one (B1), the original team who raised $4 billion in a year-long initial coin offering (ICO) for developing the EOS.io blockchain. In a tweet on July 5, the CEO of the ENF, Yves La Rose alleges that B1 didn’t fulfill its $1 billion investment commitments. EOS Foundation suing B1 In the legal update, ENF highlights its challenge with B1, asserting that the company had failed to fulfill its commitment to a $1 billion investment for building and expanding the EOS Network ecosystem. IMPORTANT UPDATE ON THE LAWSUIT AGAINST @B1 ️ The ENF is preparing a suit against B1 for failure to follow through on its $1B commitment ️ B1 is attempting to settle a separate lawsuit for $22M. You may need to opt out to be eligible to participate in the ENF’s lawsuit pic.twitter.com/uMnUVyRu4M — Yves La Rose (@BigBeardSamurai) July 26, 2023 ENF is a not-for-profit organization that is responsible for the growth and deve...