A ‘white knight’ investor has rescued troubled Swiss blockchain firm Monetas from threatened bankruptcy. American company Artillery One has stepped in to take a controlling stake in Monetas, heading off a potentially fatal court case, swissinfo.ch can reveal. Artillery One founder, Daniel P Cannon, will take over as Monetas CEO and chairman of the blockchain payments start-up. Monetas founder Johann Gevers will continue to “play an important role” on the board of directors. Cannon is also a managing director at Oberon Securities, but the US investment banking boutique is not involved in the Monetas deal. The intervention was enough to convince the Swiss courts to end bankruptcy proceedings on January 25, which had been put into motion in December. “There is very little dilution to existing shareholders. Considering that the company was literally, minutes away from liquidation, it was a good deal for all,” Cannon told swissinfo.ch. “The shareholders should be very happy to ...
