The Strange Story of Kodak’s Ill-Fated Crypto Venture
Key Takeaways
- Eastman Kodak on Monday warned it could be forced to declare bankruptcy for the second time since 2012.
- Its last bankruptcy led the company to pursue licensing deals, one of which, in 2018, involved a blockchain-powered photo rights platform, KODAKOne, and associated cryptocurrency, KODAKCoin.
- KODAKCoin’s private placements and initial coin offering, undertaken during 2018’s crypto winter, were poorly received, and KODAKOne never launched in full.
Eastman Kodak (KODK), after more than 100 years in business, may not be long for this world.
The company issued a “going concern” warning on Monday, informing investors it lacks the financing or adequate cash flow to pay debt that’s coming due in the next 12…
