Swiss cryptocurrency haven Tezos sued in US for $1 bn by Bitcoin investors

The looming lawsuit comes as Swiss financial regulator Finma tries to temper some of govt's enthusiasm for cryptocurrencies

All is not well in Crypto Valley.

One of the highest profile digital-currency projects in Switzerland, a country that’s been among the most enthusiastic advocates for cryptocurrencies, is under fire from both outsiders and insiders over allegations of false marketing and mismanagement, prompting its president to resign.

Now the Tezos Foundation, which raised $232 million in an initial coin offering, is engaged in the most American of pursuits: a round of lawsuits.

The non-profit’s fundraising touted an all-new model for the blockchain technology that underpins cryptocurrencies. A group of investors are claiming in a California court that the entrepreneurs behind the offering misleadingly