Tezos Co-Creator Commits to Donating Millions in Future XTZ Proceeds

Now, Kathleen Breitman has signed a binding commitment with Founders Pledge to give 15 percent of her portion of the proceeds of that sale to charity, CoinDesk has confirmed.

It will be at least four years until Breitman has access to the full proceeds, so the ultimate value of her commitment ultimately depends on the performance of XTZ and cryptocurrencies contributed in the sale.

Estimating a present value for the commitment is complicated by ongoing legal disputes around the Tezos ICO, but if the sale had been consummated already, the value of Arthur and Kathleen Breitman's XTZ together would be $97 million.

The first thing Kathleen Breitman wants you to know is that she doesn't hold any XTZ yet.

Breitman, one of the co-founders of the Tezos blockchain, has signed a binding commitment with Founders Pledge to donate a portion of her initial coin offering proceeds.

"I haven't exercised the put option for Tezos yet, but I have signed the pledge," Breitman told CoinDesk.

Per the terms of the Tezos fundraising documents, the Tezos Foundation has committed to acquire the company that Breitman owns in part, Dynamic Ledger Solutions, though it will not pay the full price till a full four years have passed and the Tezos blockchain has met certain performance criteria.

If the acquisition had simply happened on the day the sale closed, the Breitmans would have earned approximately $17.7 million from the proceeds alone, plus roughly 68 million XTZ, which would be worth approximately $97 million at today's prices.

As of now, Kathleen is the only member of the Breitman family that has made a commitment to Founders Pledge.

Since finishing her efforts to help the Tezos Foundation launch the blockchain, Breitman has been at work on a gaming company that will use Tezos infrastructure.