Block1

Block.one was founded in 2016 by Brendan Blumer and Dan Larimer, known for developing the EOS.IO blockchain platform. In June 2017, it launched the EOS token ICO, which lasted a year and raised over $4 billion, becoming one of the largest ICOs in history. In June 2018, EOSIO 1.0 was released, enabling enterprises to quickly build high-performance blockchain applications. In September 2019, the SEC sued the company for its unregistered token offering, which was settled with a $24 million fine but an exemption from ongoing restrictions—a landmark case for industry regulation. In January 2021, co-founder and CTO Dan Larimer left, signaling a strategic shift. In May 2021, Block.one announced the creation of digital asset exchange Bullish, backed by investors including Peter Thiel, and it went live in December. However, the EOS community was dissatisfied with Block.one's unfulfilled promises. In November 2021, the EOS Network Foundation issued an ultimatum demanding reinvestment in EOS and transfer of intellectual property, or token releases would stop. The community then modified the code, preventing Block.one from receiving further tokens. In February 2022, ENF hired lawyers to seek accountability, marking a complete break. These events shaped Block.one's trajectory from blockchain pioneer to a split with its community.