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

The person who was on the helm of the corporate behind what’s turn out to be often called Greece’s first cryptocurrency has allegedly precipitated the coin’s value to sink as he disappeared this month. The chief was off the radar for about two weeks earlier than lastly 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 varied enterprise pursuits and a sponsor of a basketball crew in Greece, upset traders in a cryptocurrency he created when he immediately vanished earlier in November. The value of Hellenic Coin (HNC) plunged as he turned unavailable – from over $1.20 on Nov. 8, to underneath $0.34 on the time of writing. That’s after reaching its all-time excessive of $4.84 on June 14, 2021.

Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses
Supply: Coinmarketcap

Speculations emerged that Tsapas had offered his HNC stash inflicting the droop, an accusation he has denied. Earlier than his current resignation, the entrepreneur was the CEO of HNC Revolution, the corporate managing the coin which was launched by a bunch of blockchain builders and finance consultants in 2015 because the “first Greek cryptocurrency,” the enterprise information portal recollects. It was conceived each as an funding car and a cost instrument aimed toward facilitating digital transactions for the Greek tourism trade and has since been purchased by folks from around the globe.

Crypto Businessman Disappears as ‘First Greek Cryptocurrency’ Collapses
Vangelis Tsapas, founding father of Hellenic Coin. Supply:

Whereas elevating considerations amongst HNC Coin holders, his disappearance alarmed gamers and different employees at Ionikos Nikaias B.C. too, as he has been supporting the membership financially. Tsapas, who’s concerned in catering and transport as effectively, has additionally reportedly angered Qatar’s prime minister as his firm 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 beginning to lose worth after Mr. Tsapas stopped answering his cellphone, he has just lately rejected allegations he has precipitated the drop by promoting his cash. Chatting with the Proto Thema newspaper this week, the “phantom” businessman insisted he had truly given away the Hellenic crypto totally free, blamed his shut associates for the “noise” and introduced he’ll quickly return to his enterprise obligations. Claiming media reviews are had been liable for the plummeting value, he insisted his absence didn’t play any position and said:

It’s falling, proper, by which I, in fact, don’t have any involvement. As a result of I’ve by no means offered a single cryptocurrency. I do not need any, as a result of I transferred all the pieces final Friday totally free, as I’ve the fitting, with out taking a single euro.

Tsapas added he’s holding talks with a brand new administration crew to make sure the viability of the crypto. In the meantime, HNC Coin’s present management has refuted him and knowledgeable the general public that he’s not heading the challenge anymore. A launched assertion emphasised that following the current occasions, Tsapas is now not the CEO and isn’t concerned in decision-making relating to the cryptocurrency’s operation and growth.

Within the interview with Proto Thema, meant to “restore the reality,” Vangelis Tsapas cited “critical well being causes” for his momentary retreat out of Athens and public sight however he additionally mentioned he took the step on recommendation from his lawyer. “By the best way, I’ve not been referred to as by a prosecutor for any purpose,” Tsapas identified. The publication notes that Greek legislation enforcement authorities have been discreetly monitoring developments within the case.

Tags on this story
businessman, COIN, Crypto, crypto businessman, crypto entrepreneur, Cryptocurrencies, Cryptocurrency, disappearance, drop, Entrepreneur, Greece, Greek, Hellenic Coin, HNC, HNC Coin, Buyers, market, Value, Tsapas, Worth, Vangelis Tsapas

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