As we approach an exciting 2019, we thought we’d share our financial position to give clarity and transparency on how we’re approaching the current crypto bear market.
The latest is that Status has increased its fiat holdings by 50% since October 2018 and currently holds USD 7.5m. At the same time, we have 190k ETH remaining in the multi-sig. Measured in USD, the total assets of Status equate to USD 27.5m, respectively measured in crypto, they equate to 269k ETH.
The recent events reduced the total monthly cost of the Status project from about USD 1.3m to USD 750k.
These are tough times that are hard to sugar coat. We are doing our best to ensure the long-term success of Status, and will continue to monitor our financial situation on a more frequent basis (bi-weekly) and hedge accordingly. Our top priorities are to ensure the completion of the Status White Paper and to secure the funds for the ongoing development of Nimbus until the Serenity launch.
Please feel free to ping us or Dani if you have any questions.
Nabil & Yessin