11/5/2023 0 Comments Loom network exchange![]() Vadim Macagon, who has reportedly been involved with the Loom Network initiative for a long time, was supposed to be appointed as the new chief executive. Notably, the developers of Loom have not published a Medium blog post since February 2020.Ī blog post in February had confirmed that project CEO Matthew Campbell would be leaving. ![]() The user claims they stopped getting emails from Loom, which were reportedly sent to community members two times per month. ![]() There have been no updates or anything here for a while really.” Loom’s Reddit channel has also been silent, with members saying that updates for the project have not been announced for a long time.Ī frustrated user noted around a month back that there was a lack of communication. Loom Network has pivoted from blockchain games to enterprise, therefore we’ve decided to consolidate our public channels so our staff can focus on enterprise sales, support, and outreach.” Loom secured more than $45 million through its ICO, by selling its Ethereum-based tokens, ICODrops – according to reports.Īn admin message posted in Loom’s Telegram group claimed: The company notably sold its Loom token holdings right before the historic crash of the cryptocurrency market in 2018, after a bull run that saw Bitcoin’s (BTC) price briefly reach nearly $20,000. The South Korean Loom Network project had conducted an initial coin offering (ICO) back in January 2018. “I’d call it an exit scam if there was anything left to exit with.” Loom’s core team also seems to have abandoned the project. I’d call it an exit scam if there was anything left to exit with. As noted (via Twitter) by Bruno Skvorc, manager of blockchain and crypto education site, Bitfalls, Loom is no longer has an active presence on major social media networks, which had previously included Telegram, Reddit, and a company blog.
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