The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Ethereum-Based Altcoin Abruptly Shuts Down Operations, Value Plummets 56%

by Daily Hodl Staff
August 20, 2019
in Ethereum

The Ethereum-based voting platform Horizon State has suddenly shut down, triggering a 56% drop in its crypto asset called Decision Token (HST).

In a post on Facebook, the Australia-based company says it’s being forced to close its doors due to a lawsuit that it can’t afford to fight in court, calling the legal morass “an eye-watering expense.”

“This is one of the most difficult decisions we have had to make in our lives, but we simply have no options available to us to fight this further.

We would like to thank our amazing community who have supported and journeyed with us over the last two years. Without you, we could never have achieved the milestones that made Horizon State a technology pioneer, and put Australia and New Zealand on the map as destinations for blockchain innovation.”

The company has not disclosed any details about the legal action.

“While we can’t reveal many details of the cause, we can at least say that it has nothing to do with the business — which has been taking consistent strides forward to new heights — and everything to do with a recently-served legal case in Australia.”

Horizon State was founded in 2017, with the goal of allowing governments and organizations to implement fair, transparent and verifiable voting procedures based on blockchain technology.

In February of this year, crypto outlet Micky reported that the South Australian government would conduct an official election using Horizon State’s technology.

Co-founder Jamie Skella recently revealed he would return to the company as an advisor, but those plans have been scrapped in the aftermath of the abrupt shutdown.

I didn’t return to the company; I joined their new advisory board. Of course, it makes little sense to form a team of advisors, only to shutter the company days later, so I can only assume this outcome was abrupt and genuinely unexpected by Andy and Nimo.

— Jamie Skella (@JamieSkella) August 19, 2019
[the_ad id="42537"] [the_ad id="42536"]
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Industry Announcements

  • BTCC Exchange Appoints Dan Liu as CEO Ahead of 14th Anniversary Milestone
    May 21, 2025
  • Bitcoin Suisse Secures In-Principle Approval From ADGM’s Financial Services Regulatory Authority
    May 21, 2025
  • Beer 2.0 – The Memecoin That’s Brewing Something Bigger on Solana
    May 20, 2025
  • Wall Street Ponke Launches With AI Tools, Learning Hub and Over $300,000 Raised in Hours
    May 20, 2025
  • Reppo Launches World’s First Liquid Node Sale, Pioneering Decentralized Data Infrastructure
    May 20, 2025
  • BingX AI Evolution Begins – A $300 Million Vision To Build the Future of AI-Powered Crypto
    May 20, 2025
  • Imrat Group Gains Priority Access to New Product – Bybit Launches Direct Stock Trading via Tether Stablecoin
    May 20, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$108,626.10
$108,626.10
2.16%
Ethereum
$2,515.24
$2,515.24
0.6%
BNB
$673.82
$673.82
3.7%
Solana
$170.90
$170.90
2.36%
XRP
$2.38
$2.38
1.53%

Spotlight

  • Here’s When It’ll Be Time To Flip Cautious on Crypto Markets, According to Analyst Jason Pizzino
    May 14, 2025
  • SEC Chair Paul Atkins Says Rational Regulatory Framework Needed for US To Become ‘Crypto Capital of the Planet’
    May 14, 2025
  • Low Cap Nasdaq-Listed Firm Reveals $300,000,000 Fundraising Plan To Acquire Crypto, Including President’s TRUMP Token: Report
    May 14, 2025
  • JPMorgan Chase Settles First Transaction on Public Blockchain Using Chainlink (LINK) and Ondo Finance (ONDO): Report
    May 14, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl