R3, is trying to raise $200 million from a consortium of banks. But according to an article by Finextra titled "Blockchain consortium R3 facing unrest over capital raise" that has been deleted from their website, but still available in Google Cache suggest that the move may be rustling some feathers. One industry insider in the article described the stand-off as an “implosion at R3”, adding “the big banks are apoplectic with the high handed approach and are busy ‘considering their options’.”
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Blockchain startup R3 is raising $200 million from big banks - but is facing some unrest over the capital raise
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But two sources close to the negotiations confirmed to BI that a major European bank is kicking up a fuss about the terms being offered by R3. At least two other banks are also said to have some more limited reservations about R3's offer. A source close to the bank, which they would not name, said it is concerned about not having a stake in any of the intellectual property developed by R3's lab, despite sharing knowledge and data with the startup.
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