Cybersecurity
Billionaire Tim Draper Goes Active as Internal Spat Plagues His ICO Investment
- Venture capitalist is an early investor, partner in Tezos
- Draper helping founders to select new board executive
DFJ's Draper Says Bitcoin Is Transforming Finance
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Billionaire venture capitalist Tim Draper is breaking out the sharp elbows to protect his foray in initial coin offerings.
The long-time bitcoin fan and managing partner of Draper Associates invested in Tezos’s $232 million token sale in July, at the time the biggest ICO to date, and he owns a minority stake in the firm that controls Tezos’s code, Distributed Ledger Solutions. A dispute over control between the startup’s founders and its board director has led to delays in the launch of the product, intended to be an improved blockchain. The tokens will only be released for trading once the project is launched.