The German it girl Sophia Thomalla has been beating the drum for a questionable crypto project since December. What – and who – is G999?
The year is 2019, G999 has not yet seen the light of day. In October, the Federal Financial Supervisory Authority ( BaFin) the Belize-based Karatbit Foundation to continue offering the „crypto currency“ KaratGoldCoins (KBC) in Germany. At the same time, the authority orders the foundation to be wound up: investors should get their money back. The reason: BaFin classified the business with KGC, a gold-backed token, as an e-money business, the operation of which requires a special license in this country.
Prologue: Karatbars boss Seiz is back
The Karatbit Foundation is part of the Karatbars group around the entrepreneur Harald Seiz. He did not want to be satisfied with the BaFin-Watsche at the time and sued the decision, which is still not final. In mid-December 2020, Seiz was remorseful on his YouTube channel. In an address entitled “Breaking News” he cleared the table without really going into detail. He said he did not do anything, instead, former employees and partners had been messing around with his name and trust.
In the past there were often enough small clues and indications of what was going on in the background. Which you noticed, but not really registered. Only gradually did you realize that something had to change. I had to realize that in some things we were far from perfect. All of our trust, my trust, has been abused. In my name and in the name of the Karatbars family, things were done that I did not know about and that I did not want.
That is why he got rid of certain legacies:
I have broken up with those who claim to be part of the leadership [though] they never were. And I broke up with those who simply stole my ideas and visions, used them for their own profit, and used and still use the developments and the work of the entire team for personal profit to cover up dubious business.
Seiz said later in the video , which he also uses to advertise a new project called „V999“.
G999: Karatbars 2.0?
Whether Josip Heit is one of the legacy issues mentioned? The former CEO of the Karatbars Group and his Hamburg company GSB Gold Standard Banking launched a project – also in December of last year – that is at least closely related to Seiz’s new platform: G999. A lavishly produced commercial, in which the German influencer Sophia Thomalla knocks a G999 coin out of a gold nugget in superhero fashion, was already flickering across the giant screens in New York’s Times Square.