The exodus from Bankex, which had raised more than $70 million in their ICO, of its founders was barely noticeable as it should have been. This Summer witnessed the peaceful departure of the ex-CTO’s Alexandr Vlasov and Denis Khoruzhiy, and the Bankex Foundation CEO Petr Korolev, and finally Vitlaly Dubinin, CEO of the Bankex Lab.
Funny, but nobody made no announcements on that matter, no‐one slammed the door and not a single soul revealed some dirty stories on their counterparts, which is strange, as we got used to the big rifts and to the mutual accusations of former teammates. This usually happen when somebody grabs all the money or is unwilling to disclose any kind of information about work, especially when it’s to to show some results.
The Bankex haven looks quiet but cats are about to get out of the bag. In fact, these are 4 big cats and it’s impossible to overlook the fact that those 4 gentlemen have materialized in a brand new startup called Matter. This one continues ready implementations of Plasma protocol, which was started off in the Bankex Foundation by the same people.
It appears that the divorce took place during the past Summer just because the Matter thing has begun in August. However, there’s not much info in this project: you can’t find anything on their both token and future ICO but it’s possibly a question of time.
As for Bankex, they still ignore this fact that must be crucial for their investors. They hide the current team lineup, even though they recently posted a picture called the “Brilliant Bankex 30” showing how many people are on the key positions. We hope CEO Igor Khmel and COO Syed S. Hussain can answer who’s on board now and why those people left.
Unfortunately, transparency, or rather the absence of it, is the scourge of many ICO’s. The current market capitalization of Bankex is far from optimistic as it has dropped from $36 million in April to $5 million in September. The BKX value is 50 times less than it was at the beginning of their ICO (from $2.82 to $0.044).
To make an impression it’s all fine with them, the company keeps posting neutrally positive news on the token trading options, photos from conferences with Changpeng Zhao, and some updates from their partners like MovieCoin.
So let’s try to make some conclusion, which may look odd to some degree. The brave lads just left this sinking ship as 70 million bucks have been eaten up and its hard to raise some more. But why not to give another shot to the Plasma protocol solution yet under another moniker, which is Matter?