Tezos Replaces Its Finance Chief with PwC Vet

  • Alex Dovbnya
    📰 News

    Tezos, which had been plagued by infighting between the platform’s board, will further develop its ecosystem with a new senior executive🆕👨‍💼


Tezos Replaces Its Finance Chief with PwC Vet
Contents

Switzerland-based Tezos Foundation, which focuses on developing decentralized applications, recently parted ways with its chief financial officer (CFO) Eelco Fiole, who got the job back in January. Roman Schnider, who has worked for ‘Big Four’ accounting firm PwC for 14 years, has been hired as the new CFO.

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A crucial hire

Tezos didn’t specify what prompted Fiole to call it quits after spending only five months on the job. Notably, Tezos reportedly wants to expand the circle of the CFO’s responsibilities – the new finance chief will also preside over the company’s operations. Foundation head Ryan Jespersen suggests that the new hire will be “crucial” for their success:

As the foundation continues to provide resources to a growing Tezos ecosystem, the CFO and operations lead will be critical to our success,” he says.

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Legal woes

As Tezos is beefing up its team, Kathleen and Arthur Breitman, the founders of the big-name crypto startup, are still facing legal woes. U.Today reminds its readers that Tezos faced a class action lawsuit from its disgruntled investors after its record-breaking ICO that bagged a whopping $232 mln back in 2017.

On top of that, the company had been plagued by infighting (as revealed in Kathleen Breitman’s tell-all interview).

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A recent upgrade

On a positive note, the Zug-based company is making headway with its technology. The Tezos Blockchain was upgraded for the first back in May as a result of a prolonging self-amendment process that started in February.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  


Wall Street Is Extremely Bullish on Facebook’s Cryptocurrency  
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Social media juggernaut Facebook is about to launch its Libra cryptocurrency, which, as expected, is currently on everyone’s lips.

According to a recent CNBC report, financial analysts appear to be on the same page when it comes to bullish Facebook predictions.   

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The talk of the town

There is a schism in the cryptocurrency community concerning Facebook’s foray into crypto. While some think that Facebook undermines Satoshi Nakamoto’s vision of a decentralized cryptocurrency, prominent influencers, including Mike Novogratz and Anthony Pompliano, look at the bright side.

On the flip side, major Wall Street players seem to agree that Facebook’s stock will see plenty of love once the company unveils its much-talked-about crypto project.

SunTrust, MoffettNathanson, Bank of America stick with a “buy” rating on Facebook.

MoffettNathanson goes as far as claiming that the Mark Zuckerberg-led company aims to become the biggest e-commerce platform on the planet.

We believe a Facebook cryptocurrency-based payments system could be especially useful in countries with high inflation/unstable banking systems and for cross-country remittances. So, Facebook’s commerce ambitions do not appear to be limited to developed markets. Rather, Facebook has its eyes set on becoming the world’s leading ecommerce platform as well.”

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Not the right company?  

As reported by U.Today, Facebook joined forces with VISA, Paypal, and a slew of other startups that became part of the Libra consortium for a whopping $10 mln fee.

The company itself remains radio silent about its crypto ambitions, but there have been countless reports on that topic since December.

We are about to see a fiat-pegged stablecoin that will be integrated into Facebook, Instagram, and WhatsApp.

After being plagued with huge data scandals, Facebook will probably have a hard time convincing regulators to green-light its new cryptocurrency. Hence, it might be a promising idea, but not the right company to pull it off.

Cover image via u.today
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About the author

Alex Dovbnya (aka AlexMorris) covers all things crypto — from major projects, which are fighting tooth and nail to gain the upper hand in the burgeoning industry, to the latest regulatory trends around the world. When he happens to take a break from crypto, Alex delves into cognitive linguistics (metaphors can be fun too!).

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