EOS network foundation initiates legal action against Block.one

The EOS Network Foundation (ENF) has taken legal action against major investor Block.one (B1), alleging a failure to fulfill $1 billion in investment commitments. ENF founder and CEO, Yves La Rose, recently announced on Twitter that the foundation is preparing a lawsuit against B1 for its failure to follow through on its $1 billion commitment.

Timeline of Eos

Block.one, a significant investor in the blockchain industry, is now under fire from the EOS Network Foundation (ENF) for purportedly defaulting on its $1 billion investment commitment. ENF's CEO, Yves La Rose, recently announced the foundation's preparation to file a lawsuit against Block.one, adding to the growing list of legal actions the latter faces.

EOS Network Foundation (ENF) is preparing to sue the developer of the EOS (EOS) network Block.one for not fulfilling its promise to invest $1 billion in the blockchain, according to a July 25 statement. “One of the issues that the community faces is the failure of Block.

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The long-standing battle between the EOS Foundation and Block.one (B1), the company behind the EOSIO blockchain, is set to take a new twist. Over the weekend, the EOS Network Foundation's (ENF) founder and CEO, Yves La Rose, proposed some possible measures.

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In a recent development within the EOS Network (CRYPTO: EOS) community, its founder Yves La Rose urged community members to explore the possibility of initiating legal proceedings against Block.one (B1), a key investor in the network. According to La Rose, B1 has not fulfilled its commitment to a $1 billion investment, which it had promised at the time of the network's initial coin offering (ICO) in 2018.