Block.one, a Peter Thiel-backed crypto startup, pays out 6,567% return to its earliest investors

We first wrote about Block.one in January of year when the blockchain startup led one of the largest initial coin offering to date. Back then, Block.one raised more than $4 billion in 2017 through coin offerings from the sale of its token, called EOS. Block.one is a new startup company that is building its own bitcoin-like operating platform (EOS.io) project. The goal is to use EOS.io has a infrastructure platform to host variety of decentralized applications. block.one designs free market systems to secure life, liberty, and property by publishing open source software that is free for everyone to use.

Now, the company just announced its planning to buyback 10% buyback of its stock, according to the latest report from Bloomberg. That means the 10% buyback will “return as much as 6,567% to its earliest investors—in less than three years. That translates into $6.6 million for a $100,000 stake, a stunning result any time but especially in a market that crashed in 2018,” the report added. Block.one has raised a total of $4B in funding over 3 rounds.

Bloomberg further noted that Block.one has assets, including cash and investments, totaled $3 billion at the end of February, according to a March 19 e-mail to shareholders seen by Bloomberg.

Block.one was founded in 2017 by Brendan Blumer. Block.one is an open source software publisher specializing in high performance blockchain technologies. Its first project, EOSIO, a blockchain protocol designed to enable secure data transfer and high performance decentralized applications, has received global recognition as the first performant blockchain platform for developers, following its introduction in May 2017. The EOSIO engineering team is led by Dan Larimer, the inventor of the revolutionary Delegated Proof of Stake (DPOS) consensus mechanism.