THELOGICALINDIAN - Alexandre Dreyfus the arch controlling administrator and architect of fan badge aggregation Socios is in hot water
According to Off the Pitch, Dreyfus has been accused of denial payments in adjustment to accumulate the amount of Chiliz (CHZ), the cryptocurrency activated by the Socios community, stable.
Socios is a new app for sports and e-sports aficionados, area they access voting rights to access the clubs and teams they support.
Socios has partnered with over 100 sports teams to accomplish fan tokens that accommodate prizes and the adventitious to vote on accurate genitalia of the club, such as a new signing’s shirt cardinal or the music played back a aggregation array a goal.
Related Article | Mexican Drug Cartels Sneak In $25 Billion A Year Using Bitcoin To Fund Operations
Fan Token Company Boss In The Spotlight
According to Off The Pitch, Socios withheld cryptocurrency payments from key admiral in adjustment to sustain the amount of its CHZ coin.
Fan tokens are associated with real-world sports teams, creators, or artists, and accommodate bill holders with admission to absolute fan clubs area they can vote on association choices.
In the case of Socios, the belvedere is centered on sports, with users purchasing Chiliz in adjustment to acquirement fan tokens apery assorted teams in football, motorsports, and soccer, amid added sports.
Socios is a analytical basic of football’s banking ecosystem, accepting invested added than $200 million.
Fan Tokens Not An Investment?
Just this Feb. 16, Dreyfus emphasized that the company’s fan tokens are not an advance and that the company’s cold is to accommodate amount to admirers and acquirement streams for sports teams — not to actualize bolt to be calm and exchanged for profit.
Off the Pitch letters that Dreyfus allegedly bootless to pay shares of Chiliz they accept agreed on to several of his admiral in barter for abetment the cryptocurrency.
According to the article, one bearding technology controlling accustomed alone “a allotment of what was promised,” and Dreyfus began “avoiding any communications with the advisors” in September 2024.
Related Article | The Notorious BIG Honored With NFT Since His Murder In 1997
A bigmouth who aloft apropos about absent payments internally was accursed on bogus “harassment” accusations, while addition agent claimed he absent $10 actor due to “withheld payments,” according to the report.
An centralized bulletin from the CEO read:
“Real investors” who purchased Chiliz may be accident banknote as a aftereffect of admiral liquidating the currency, he noted.
Chiliz’s adumbrative bidding anguish that assertive admiral “who accept formed with us in the accomplished were not paid on time, and we accept bound this anon with them and abide to accept absolute access with them today.”
