The largest American cryptocurrency company Coinbase has acquired the Italian analytical Neutrino startup for $13.5 million (12 million euros). It is reported by Bitcoin Magazine, citing the text of the agreement of 15 February.
So, the co-founder of Neutrino Giancarlo Russo, Marco Valleri and Alberto Ornagi owned 22% each, and another 33% owned by venture capital firm 360 Capital, which invested in start-up $565 thousand in April 2017.
In the end, Coinbase will pay $2,951 million for each of the founders, and $4,993 million firm 360 Capital. It is noteworthy that on the day of signing of the first contract received a $487 thousand, and the venture company — $4,055 million Other funds ($8,332 million) were transferred to the trust account at the Bank Credit Suisse. It is not known when the former holders of shares will receive payments in full.
We will remind, after purchase, Neutrino Coinbase was heavily criticized by the community. It turned out that Valery and Ornagi under pseudonyms NaGa and ALoR in 2003 founded the Hacking Team, which sold the services of dictatorial regimes in Saudi Arabia, Morocco, Sudan, Kazakhstan, Bahrain and Turkey.
The Italian programmers have created a remote control system, is actually a malicious Trojan that allows remote access to files, record keystrokes, take photos and read mails on your device.
In 2013, the influential international non-governmental organization “reporters without borders” called Hacking Team because of her role in the harassment of journalists one of the five “enemies of the Internet”, however, to stop the spread of the company’s products that did not help.
Why the bitcoin community has declared war on #Coinbase for buying analytical startup Neutrinohttps://t.co/OhRdTLOWj5#Neutrino #bitcoin #cryptocurrency #privacy pic.twitter.com/bRihvpIetL
— ForkLog (@ForkLog) March 3, 2019.
The members of the community even launched a Twitter campaign #DeleteCoinbase.
As a result, companies had to respond to criticism dismissal of former members of the Hacking Team.
“Initially, we focused on the technology and security of the Neutrino, but not considered the situation from the point of view of our mission and values as the cryptocurrency company. This decision was not easy, however, after discussions with the startup team, we agreed that former members of the Hacking Team will leave the company, regardless of whether they have at the moment, the attitude to such activities”.
But such a move solved the problem not completely, because the community appeared uncomfortable questions not only about the Neutrino. So, listing XRP and lobbying hard approach to the regulation industry in the US has alarmed many supporters of bitcoin.
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