Advanced Blockchain: Mudslinging at Germany's Blockchain Pioneer
Million-dollar claims, questionable deals, and allegations are weighing on Advanced Blockchain AG. A special audit was supposed to provide clarity. Now it could end before it has even begun.
The Advanced Blockchain AG's annual general meeting was dominated by discussions of outstanding million-euro claims, questionable deals, and delayed business reports from the past. The company's crisis, ongoing for four years, has led to a significant decline in trust among small shareholders, with the stock price dropping from around 17 euros in 2021 to just over one euro, a decrease of over 90 percent.
The shareholders had voted for a special audit in February to investigate the company's past and restore trust. However, a surprise turn of events may halt the audit before it begins, potentially benefiting Michael Geike, a Remscheid-based cryptocurrency entrepreneur.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
