Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses – Bitcoin News – Bitcoin News

The One which was On the helm of The agency behind what’s Discover your self to be Usually acknowledged as Greece’s first cryptocurrency has allegedly set offed the coin’s worth to sink as he disappeared this month. The chief was off the radar for about two weeks earlier than finally telling the press He’ll quickly return, rejecting accusations he has crashed the market of the crypto.

Hellenic Coin Plummets Amid Crypto Buyers’ Worries About Whereabouts of Coin’s Creator

Vangelis Tsapas, somebody with numerous enterprise pursuits and a sponsor of a basketball group in Greece, upset investors in a cryptocurrency he created when he all of a sudden vanished earlier in November. The worth of Hellenic Coin (HNC) plunged as he turned unavailable – from over $1.20 on Nov. 8, to beneath $0.34 On the time of writing. That’s after reaching its all-time extreme of $4.84 on June 14, 2021.

Supply: Coinmarketcap

Speculations emerged that Tsapas had purchased his HNC stash inflicting the droop, an accusation he has denied. Before his current resignation, the entrepreneur wAs a Outcome of the CEO of HNC Revolution, The agency managing the coBy which was launched by A gaggle of blockchain builders and finance specialists in 2015 As a Outcome of the “first Greek cryptocurrency,” the enterprise information portal Newmoney.gr recollects. It was conceived each as an funding car and a cost instrument Aimed in the direction of facilitating digital transactions for the Greek tourism enterprise and has since been purchased by people from Throughout the globe.

Vangelis Tsapas, Founding father of Hellenic Coin. Supply: Newmoney.gr

Whereas elevating considerations amongst HNC Coin holders, his disappearance alarmed gamers and completely different staff at Ionikos Nikaias B.C. too, as he has been supporting the membership financially. Tsapas, Who’s involved in catering and delivery as properly, has additionally reportedly angered Qatar’s prime minister as his agency employed to handle Sheikh Khalid bin Khalifa bin Abdulaziz Al Thani’s superyacht, Al Mirqab, Did not pay its crew their wages.

Regardless of the HNC Coin clearly Starting to lose worth after Mr. Tsapas stopped answering his telephone, he has currently rejected allegations he has set offed the drop by promoting his cash. Chatting with the ThemA mannequin informationpaper this week, the “phantom” enterpriseman insisted he had truly given amethod the Hellenic crypto Freed from cost, blamed his shut associates for the “noise” and introduced He’ll quickly return to his enterprise obligations. Claiming media reviews are have been Responsible for the plummeting worth, he insisted his absence didn’t play any position and said:

It’s falling, proper, By which I, Really, Have not any involvement. As a Outcome of I’ve by no means purchased a single cryptocurrency. I’ven’t acquired any, beset off I transferred every thing final Friday Freed from cost, as I’ve The biggest, with out taking a single euro.

Tsapas added he’s holding talks with A mannequin new administration group To Make constructive the viability of the crypto. In the meantime, HNC Coin’s current management has refuted him and educated The general public That He is not heading the enterprise anymore. A launched assertion emphasised that following the current occasions, Tsapas is Not the CEO And is not involved in choice-making relating to the cryptocurrency’s operation and enchancment.

Inside the interview with Thema, meant to “restore The fact,” Vangelis Tsapas cited “critical well being set offs” for his short-term retreat out of Athens and public sight however he additionally said he took the step on suggestion from his regulationyer. “By The biggest method, I’ve not been referred to as by a prosecutor for any set off,” Tsapas Recognized. The publication notes that Greek regulation enforcement authorities have been discreetly monitoring enchancments in the case.

Tags On this story

enterpriseman, COIN, Crypto, crypto enterpriseman, crypto entrepreneur, Cryptocurrencies, Cryptocurrency, disappearance, drop, Entrepreneur, Greece, Greek, Hellenic Coin, HNC, HNC Coin, Buyers, market, Price, Tsapas, Value, Vangelis Tsapas

What do you assume Can be the destiny of Greece’s first cryptocurrency and its creator? Inform us in the suggestions part under.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

Extra Well-appreciated News

In Case You Missed It

Source: https://news.bitcoin.com/crypto-businessman-disappears-as-first-greek-cryptocurrency-collapses/