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Backer behind Overstock-funded company says it's going under
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Quick Take
- Bankorus is a security token platform that raised $10 million from traditional seed funding and ICO
- According to Sonic Zhang, Bankorus’ largest investor, the startup has shut down, with zero cash, no employees, and the only viable asset being a 1 million euro investment in a Lithuania-based credit union
- However, Bankorus’ recent updates to investors attempted to paint a more rosy picture of the company’s situation
An Overstock-backed firm has shut down, according to one of its largest shareholders. But the company’s executives have been assuring agitated investors that everything is operating normally. Beijing-based security token startup Bankorus, which raised at least $10 million over the past few years, originally set out to be the main security token platform for high-net-worth […]
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