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At the first Seattle session, where the largest amount of funds was raised, the nature of the fundraising was unilaterally redefined by Jung from donations to an investment-based funding model, implying potential financial returns to participants.
Jung’s statement :
“So, one of the major mistakes I made at the beginning was presenting this as a donation. It’s not a donation or a sponsorship — it’s more like a crowdfunding concept. That means the money you are contributing will be compensated in some form. I can’t say exactly what that form will be right now — it could be through blockchain, cryptocurrency, actual cash, or equity. We’re still in the process of planning and may adjust the format over time, but we do believe we’ll be able to provide some form of return.”
Transcript
May 28 : the first Seattle session (full video)
Jung unilaterally changed the nature of the fund from a donation-based model to an investment-type fund. As a form of symbolic compensation to those who had contributed up to that point, he displayed their names in the credit section at the end of the May 29 broadcast on Yeollin Gonggam TV.
The message Jung posted in the Kakao group chat on May 27
"I want to emphasize once again that the initial funding to create the Citizen Portal is not a simple donation, but a form of public funding in which citizens are the rightful owners.”
