The person who ran the corporate behind what is named Greece’s first cryptocurrency allegedly dropped the value of the coin when it disappeared this month. The supervisor was off the radar for about two weeks earlier than lastly telling the press that he could be again quickly and dismissed allegations that he crashed the cryptocurrency market.
Hellenic Coin crashes amid considerations of crypto traders over the whereabouts of the coin inventor
Vangelis Tsapas, somebody with numerous enterprise pursuits and a sponsor of a basketball crew in Greece, angered traders in a cryptocurrency he had created when it out of the blue disappeared in early November. Hellenic Coin (HNC) value crashed when it was now not accessible – from over $ 1.20 on Nov. eight to beneath $ 0.34 on the time of writing. That is after hitting the all-time excessive of $ 4.84 on June 14, 2021.
Hypothesis has surfaced that Tsapas bought his provide of HNCs, inflicting the break-in, an accusation he has denied. Earlier than his most up-to-date resignation, the entrepreneur was CEO of HNC Revolution, the corporate that manages the coin, which was launched in 2015 by a bunch of blockchain builders and monetary consultants because the “first Greek cryptocurrency,” remembers enterprise information portal Newmoney.gr. It was designed as each an funding car and a cost software to facilitate digital transactions for the Greek tourism business and has since been purchased by individuals from everywhere in the world.
Whereas it sparked considerations amongst HNC coin holders, his disappearance additionally alarmed gamers and different workers at Ionikos Nikaias BC as he financially supported the membership. Tsapas, who can also be within the hospitality and transport industries, has additionally reportedly upset the Qatar Prime Minister when his firm, which has been tasked with managing Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani’s superyacht, Al Mirqab, is the crew not paying their wages.
Though the HNC coin started to depreciate considerably after Mr Tsapas stopped answering his cellphone, he just lately denied allegations that he brought on the decline to be brought on by the sale of his cash. In a dialog with the newspaper Thema this week, the “phantom” businessman insisted that he had really given away the Greek crypto at no cost, blamed his shut associates for the “noise” and introduced that he’ll quickly be returning to his enterprise obligations will. Claiming media reviews have been chargeable for the drop in costs, he insisted his absence didn’t matter, stating:
It falls, proper, during which, in fact, I’m not concerned. As a result of I’ve by no means bought a single cryptocurrency. I haven’t got any as a result of final Friday I transferred every part at no cost, as I’ve, with out taking a single euro.
Tsapas added that he’s in talks with a brand new administration crew to make sure the viability of the crypto. Within the meantime, the present management of HNC Coin has refuted him and knowledgeable the general public that he’s now not main the undertaking. A printed assertion confused that following latest occasions, Tsapas is now not the CEO and isn’t concerned in choices in regards to the operation and improvement of the cryptocurrency.
Within the interview with Thema, which was imagined to «restore the reality», Vangelis Tsapas cited «critical well being causes» for his non permanent withdrawal from Athens and the general public view, but additionally mentioned that he took the step on the recommendation of his lawyer. «By the way in which, I used to be not referred to as by a prosecutor for any cause,» mentioned Tsapas. The publication notes that Greek regulation enforcement businesses have been discreetly monitoring developments within the case.
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