Report: ProtocolLabs and its investors in dispute over Filecoin token distribution

On August 19, Block announced that a dispute had arisen between Protocol Labs, the developer of the Filecoin project, and its affiliates, resulting in a settlement between the two. According to a statement from Axios on Tuesday, the controversy over the distribution of the Filecoin token has focused on groups of traders. Protocol Labs raised a number of seeds and made an estimated $ 250 million token sale to Filecoin in 2017. According to Axios, some affiliates, but not all, are involved in the token sale. Protocol Labs owns a percentage of the tokens which theoretically increases the value for the same trader. However, many sources indicate that most of the tokens were put aside by CEO Juan Batiz-Benet and the CEOs. The report also states that Protocol Labs does not distribute tokens to merchants, according to the capital.