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Peter Thiel-Backed Crypto Startup Pays Out 6,567% Return

After raising $4 billion in a record token sale, Block.one gives some back to shareholders.

Peter Thiel

Peter Thiel

Photographer: Stephanie Keith/Getty Images
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Billionaire moneymen Peter Thiel, Alan Howard and Louis Bacon have seen plenty of big paydays—but probably none as unusual as this one.

A buyback by Block.one, a cryptocurrency startup, will return as much as 6,567% to its earliest investors—in less than three years. That translates into $6.6 million for a $100,000 stake, a stunning result any time but especially in a market that crashed in 2018.