Bolt CEO Ryan Breslow explains his troubled $30M personal loan, announces new ‘super app’

The co -founder of the controversial gerl, Ryan Preslo, who returned the position of CEO earlier this month, spoke on Monday about the personal loan of $ 30 million he obtained from his company, which sparked legal battles and contributed to his temporary (temporary) removal.

BRESLOW has also announced that Bolt will launch a “application of everything” merges one click on everything from Crypto to financial services “very soon”.

The legal battle began on the loan in 2023, when Bolt Investor Activant filed a lawsuit against BRESLOW. Activant claimed that BREROW has led to the start of the start of $ 30 million in debt by borrowing this amount and then failing to pay, with the company’s use to pay.

The case was eventually settled, as Bolt agreed to the re -purchase of Activant shares for $ 37 million last year.

Speaking at Fintech Meetup in Las Vegas yesterday, Prisono defended the loan, and put him in his framing as a work of loyalty to conversion instead of getting rid of a competing lawsuit.

He said that he made the loan instead of selling his shares in a secondary deal and that the loan was unanimously approved by Bolt Council.

“It was done to be a supporter of the petrol,” said Preslo. “I took it out instead of selling any secondary secondary. I wanted to show all our investors that I keep all chips chips, and I think a lot in stocks to the point that I do not sell my shares.”

Perslu said he believed he had time to pay the loan and was waiting for urine to the general subscription to do so. He said that after he left the role of the CEO, he summoned the board of directors in the loan, which he considered a “little attack.”

Brezlo, the founding founder of Bolt, resigned as an executive head in early 2022. In the years between that time and his return this year, he also faced allegations that he had misled investors and violated security laws by amplifying standards while collecting donations at the last time the company managed.

On Monday, Presslo admitted that he had committed “a lot of mistakes” – but he said they were not the ones who accused him. He looked at his main mistake as allowing people to join the Bolt CAP table as “he does not know well” (without specifying).

“Super App” in business

Now that he has returned as an executive president, he says that Bolt will soon launch the new “Super app” that will integrate the Bolt experience with one click of e -commerce through a wide range of services.

“Instead of a single click, we will get one click everything: financial services, from counterpart to counterpart, encryption, cards, financial products, everything in one application,” he said.

BRROLOOW Bolt compared UK Fintech Revolution, which amounted to $ 45 billion last year, claiming that Bolt has 80 million “conservatives” compared to 45 million DROCLUT companies, although he admitted Petrom, “we have not yet provided consumers.”

In fact, Bolt’s Arr has reached about $ 28 million with total total profit $ 7 million as of the end of March 2024, according to Tech Publication New Newjer last year. This is small compared to Drovolut, which announced the revenues of $ 2.2 billion and $ 545 million of profits (pre -tax) for 2023 alone.

The remaining question about Bolt is the state of collection of next donations. In August, the news broke out about the $ 450 million donation of donation. However, it raised questions about its unusual use of $ 250 million in “marketing credits” and the lack of confirmation of an investor that was accidentally identified as his progress.

Bolt said today that some Bolt investors, including Blackrock and Hedosophia, have filed a lawsuit against the tour, but this was voluntarily rejected by all parties.

Perslo indicated during his speech that “all” legal cases against him “are completely stable, and she refused”, but he did not make a update to collect donations of $ 450 million.

However, she commented that he was “modest” through his experience and found a new design on Bolt operating after his faith and himself – and started to run – was challenged.

He said: “You know, it is clear that I made mistakes, but I have a very large segment on my shoulder.” “I am ready to take the bolt to really new heights.”

Blackrock and Hedosophia did not respond to a comment.