Neutrino Bought by Coinbase for $13,5 Million

Following an acquisition contract, Coinbase bought Neutrino for $ 13.5 million, an acquisition contract obtained by Bitcoin Magazine on Wednesday, March 6th.

For those who missed this story, the Coinbase Cryptocurrency Exchange has recently faced a strong reaction from the crypto community after the acquisition of Neutrino, a company closely linked to the infamous Hacking Team, which reportedly sold spyware and other software to repressive regimes.

According to cointelegraph, it seems that in the document, it is said that the Neutrino’s founders, CTO Alberto Ornaghi, CEO Giancarlo Russo and CRO Marco Valleri, will each receive $2.9 million, proportional to their shares in Neutrino. In the meantime, 360 Capital, an EU venture capital firm that invested $565,000 in Neutrino back in 2017, will reportedly receive $4.99 million.

The notary paid each founder $487,000, while 360 Capital received $4 million. Over $8 million are remaining; it is allegedly stored at a Credit Suisse trust account affiliated with the company according to the contract.

Meanwhile, some of the crypto community calls the users to forgive Coinbase. It was a big mistake, certainly, they say but notable personalities in the cryptocurrency community are now urging users and investors to forgive the exchange as they have recognized ed their fault.

Source: cointelegraph

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