The $10k we raised was held in our Bittrex account until we made enough to cover the cost of the website. We set a goal of $10k for the community to raise (Thanks to Jerry we got it), however that was not all the funds we needed/need. The total cost for the site is $20,000 so I personally put $10k towards it and that took a little time to get.Hope this makes sense!
EDIT : This is why we have not made any progress up until now. We wanted to make sure we had 100% of the money needed before giving the go ahead to the Devs. We will have a new post up next week with more updates.