An Australian cryptocurrency investor has lost US$267 million after failing to secure funding for his Silicon Valley-based blockchain start-up as the digital currency market remains in a knockout.
Michael Dunworth, the co-founder of Wyre, said he was dealt a heavy blow by the news last week that US online checkout company Bolt Financial Inc scrapped the $1.5 billion deal with his company.
“I suppose money isn’t really in the bank until it’s in the bank,” Dunworth told the Australian Financial Review on Sep. 20.
“I’m trying to be as realistic as possible. Otherwise, you’re only going to break your own heart. But there is the thought that I could have worked this whole 10 years for zero dollars.”
The 36-year-old didn’t explain why the deal was axed. But he said that times have changed.
“We had multiple parties interested last time, and though the market has changed, I’d be surprised if that wasn’t the case now,” he said.
Dunworth also told the AFR that his company could either look...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...