Where Did $21 Mln Go? THOR Project Is Almost Broke

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The project raised over $21 mln via ICO just over two years ago, and since then many investors have criticized management for the irrational use of money. 31.01.2019  |   in Cryptocurrencies NEM Announces The Risk Of Bankruptcy, Asks For The Community Support The THOR project announced that it is laying off 50% of staff due to the financial difficulties. The audience reacts negatively to the news — many wonder what happened to the collected $21 mln, accusing the founders of the fact that the project was initially conceived as a scam. He argues that the team is not doing enough to develop and that THOR is becoming centralized. In January 2017, THOR's crowdfunding was a success, but since then, it seems, little has been done to develop the project, and the THOR token has not yet been listed on any major crypto exchange.

Article Preview 31.01.2019  |   in Cryptocurrencies NEM Announces The Risk Of Bankruptcy, Asks For The Community Support The THOR project announced that it is laying off 50% of staff due to the financial difficulties. The project raised over $21 mln via ICO just over two years ago, and since then many investors have criticized management for the irrational use of money.

In January 2017, THOR's crowdfunding was a success, but since then, it seems, little has been done to develop the project, and the THOR token has not yet been listed on any major crypto exchange. In a statement, THOR’s CEO and co-founder, David CHIN, said:

“We’ve needed to correct our cash flow as the blockchain market declined 90% from the time we initially did our ICO. Some of the folks affected in the layoffs may rejoin the company full time in the coming months depending...

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