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Gaining the Upper Hand

To be sure, the $232 million taken in last summer is still controlled by the foundation, which recently restored itself back up to full strength under Gevers. 

However, the Breitmans still own the trademark, according to the U.S. authority for patents and trademarks, along with the domain and the technology. «They actually seem to have the upper hand, even if Johann Gevers has the money,» Meisser said.

The move comes shortly after Gevers seemed to signal that he was preparing to step down, under certain circumstances, in a blog post which was quickly deleted.

A Battle of Foundations...

A community of investors, developers, and other supporters launched a separate foundation called T2 earlier this month. Born out of frustration at what they perceive as Gevers’ dithering, T2 said it could launch the Tezos network «if needed».

Developers in Paris and Silicon Valley are expensive, and so is the legal and other help needed to launch the network. The problem? The foundation originally set up for Tezos last month said its accounts had been frozen as a result of the dispute, and it had recently won back sovereignty over its affairs. Its board is «in touch with all key parties», a spokesman for the foundation said, without elaborating.

... and Over Money

The Breitmans and Gevers originally fell out over money. No one knows how much the first Tezos foundation is sitting on, but its original $232 million in proceeds is worth a multiple of that because prices for ether and bitcoin have surged. It is unclear what happens if the token launches without involving the foundation that was set up to do so. A thaw between the two parties would be the most efficient way out of the dilemma, Meisser said. «The ICO last year raised more than enough money for everyone involved.»

Tezos would still be hobbled by the U.S class action suits. A «rogue» launch of the coin by the Breitmans may be a ploy ahead of the next round in the lawsuits in March, according to Stephen Palley, a Washington, DC-based tech lawyer. «This will make sense if DLS [the Breitmans' U.S. company] and the foundation agree that the tokens are valid things,» he told finews.com. «It may not end their class action hell, but having tokens issued and speaking with a common voice in a joint defense is a much better position to be in.»