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Blockchain startup Zwoop collapses following cancellation of ICO

Submitted by TNW News on January 11, 2019 - 9:07am


VC-backed cryptocurrency startup Zwoop has gone into administration. According to an exclusive report by The Telegraph’s James Cook, the company’s board of directors filed for administration at the end of November last year. As a result, employees and suppliers from all over the world have been left with unpaid wages and bills, according to sources. Zwoop, founded by Italian entrepreneur Alessandro Gadotti, raised $13 million from Robert Friedland, an American-Canadian billionaire and mining tycoon. Friedland is also the founder of Ivanhoe Capital Corporation (a key stakeholder in Zwoop) and Ivanhoe Mines, a Canadian public company listed on the New York…

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