From “Ethereum Killer” to Luxury Villa 🏖️
Brendan Blumer, CEO of Block.one and co-founder of EOS, just dropped $172 million on a 28-bedroom estate in Sardinia—one of Italy’s biggest real estate deals ever. The villa was once owned by Saudi Arabia’s former oil minister and, before that, Henry Ford II.
💸 Where did the money come from?
In 2017, Blumer raised $4 billion in the EOS ICO—the biggest token sale in history. EOS was hyped as the next-gen smart contract platform that would dethrone Ethereum. It never came close.
📉 What happened to EOS?
🔻 Peaked at $22.71 in 2018, now trading around $0.78 (-96%)
🔻 Ecosystem dried up, devs left, usage collapsed
🔻 A chart that looks like a cliff
But here’s the kicker: the money didn’t disappear—it just changed hands. Investors got tokens, founders got exit liquidity. The game? Create hype, raise billions, disappear.
If you bought EOS thinking it would flip Ethereum, congrats—you just funded someone’s villa. 🤦
$BTC: 83,539.2 (-0.9%)
$ETH: 1,816.34 (-2.48%)
$SOL: 118.88 (-4.31%)