Tezos Foundation Rearranges Board, the Breitmans Warm Up

The Tezos project may see the funds of the Foundation unlocked for a launch soon, making the rogue network unnecessary.

The Tezos project is still going without a main net, and now the rift between the Swiss-based Tezos foundation and the Breitmans who own the code has deepened. The Foundation seems busy with administrative matters and legality. Its latest move is to reshuffle its board.

The Tezos Foundation has unanimously appointed Ryan Jesperson and Michel Mauny to the Board. The two new members will replace Johann Gevers and Diego Olivier Fernandez Pons. https://t.co/02qG1lB6db

— Tezos Foundation (@TezosFoundation) February 22, 2018

The news was greeted by Kathleen Breitman, who only a few days ago considered launching the Tezos ecosystem.

“Arthur and I embrace the change in leadership and look forward to working with the foundation,” Breitman said to the WSJ.

The Foundation and the Breitmans, locked for months in a lawsuit, have suddenly ended the court struggle, but for now refrained for giving more details on the exact conditions of the resolution. But the chief point of contention was between the ICO funds that now may be in excess of $400 million, and the ownership of the code, which still belongs to Kathy and Arthur Breitman.

The resolution came after Johann Gevers stepped down, to be replaced by Ryan Jespersen, the head of the alternative T2 Foundation. The new organization was created with the aim of pressuring the original Foundation to resolve the conflict and achieve the token launch.

The legal battle and the delay have beaten down the Tezos digital asset, but now the price reacted favorably to the news of the new Foundation board that was on the same page as the Breitmans. The XTZ coin grew by more than 20% in the past 24 hours to $4.17, and has in fact traded at higher levels against Bitcoin compared to the post-ICO price.

But even as the Tezos project was delayed, some work was done on the sidelines. A TzScan service was created with some oversight from the of the T2 Foundation:

First release of TzScan (https://t.co/lrLhNVUZKr), a new block explorer for #Tezos developed by @OCamlPro, with a specific focus on understanding the health of the network ! https://t.co/wZrpvLORol

— tzscan (@tzscan) February 14, 2018

The token launch, considered by some to be possible as soon as March, caused the investor community to cheer. Early adopters with belief in Tezos consider the prices until now quite low, despite the worrying drops on bad news. But so far, the XTZ asset has held surprisingly well, and there are enough wallets waiting on the sidelines, based on long-term expectations for the project.

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