To finance these operations the Auroracoin Foundation / IBF sold a big part of the M1 fund a few months back. The funds have been used for the re-branding, salaries for the CEO, meetups, office expense and events here in Iceland and will financially secure future operations of the foundation.
It is our hope that the work we are doing and the means we have chosen to use the funds will have the greatest impact for the greater good of crypto/blockchain and Auroracoin in Iceland.
So the foundation:
- Ditched the Auroracoin brand
- Sold the vast majority its Auroracoins
- Repurposed the proceeds to fund things not directly related to the coin
Let's face it. You guys abandoned the project.