A weighty U.S. crypto investor is buying the majority of Monetas, plucking the Swiss digital currency firm out of bankruptcy court.
The news was headlined «Phoenix Rises from the Ashes,» along with the famous quote that «reports of my death have been greatly exaggerated,» which is frequently falsely attributed to Mark Twain.
Monetas, which has shrunk to a one-man firm run by South African-born entrepreneur Johann Gevers, is being salvaged from bankruptcy by Daniel Cannon (pictured left), a U.S.-based cryptocurrency investor, the firm said in a statement on Thursday.
Gevers Remains
The firm didn't disclose financial details of the deal, which will see Cannon become Chairman and CEO of Monetas. The brainchild of Gevers, Monetas plans to keep the founder on as a board member. «Johann is an amazing visionary, an extremely talented and principled individual,» Cannon told «swissinfo.ch».
Gevers has more recently been in the headlines over his role at Tezos, where he heads a Swiss-based foundation that governs the proceeds of a record-breaking coin offering last year as well as eventually the technology behind the cryptocurrency. He has born the brunt of massive criticism from the so-called Tezos community of investors and backers of Kathleen and Arthur Breitman, the couple behind the technology.
