Former Ethereum marketing consultant Nerayoff loses Techstars deal after extortion prices

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Begin-up accelerator Techstars has canceled its a few years of collaboration with the corporate owned by Early Ethereum counselor Steven Nerayoff.

Techstars closed the joint accelerator

In accordance with cryptocurrency information outlet The block on October 8, the arrest of Nerayoff on suspicion of extortion Techstars had pressured his affiliation with Alchemist, a blockchain advisory start-up.

The 2 joined forces in July 2018, creating the Alchemist Blockchain Techstars Accelerator primarily based in New York.

Nerayoff was that final month arrested in reference to the alleged plans to deliver down a brand new start-up from the US. Along with Michael Hlady, the entrepreneur would have demanded $ 4.45 million from the corporate in what prosecutors are a & # 39; old style shakedown & # 39; known as.

"Imposing robust calls for on a private revenue firm is a dangerous enterprise, whether or not one prefers to be paid off with cryptocurrency or chilly onerous money," stated William F. Sweeney, assistant director, in an accompanying press launch. from the FBI, add:

"The FBI continues to hunt justice for victims focused by firms by means of the sort of rip-off."

A "mandatory" step

Accordingly, Techstars stated it was "mandatory" to withdraw its model from Nerayoff and Alchemist, The Block reviews.

Nerayoff was one of many early advisers of Ethereum, the unique token of which – Ether (ETH) – stays the second largest cryptocurrency resulting from market capitalization.

In January 2018, he predicted a growth yr for the community, one thing did not come true as a long-term bear market, ETH / USD crashed by round 90%.

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