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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The defi community rallied behind PoolTogether by raising $1.4 million through a nonfungible token sale last year to support the platform’s legal defense. In a June 7 development, a judge in the United States dismissed a lawsuit
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A United States judge recently dismissed a lawsuit against the decentralized finance (DeFi) platform PoolTogether. According to the ruling, the federal court system is not the correct place to air concerns against the DeFi startup. CASE DISMISSED!!!!https://t.co/HDApQZe3Sx pic.twitter.com/SjcDnMnLIV— Leighton (@lay2000lbs) June 7, 2023 U.S. district court Judge Frederic Block said that
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The lawsuit, filed by former congressional staffer Joe Kent in the U.S. District Court for the Eastern District of New York in October 2021, alleged the DeFi platform violated New York state’s gambling laws by “allowing people to evade financial regulations and scam consumers,” according to the original complaint. Kent,
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No-loss lottery decentralized finance (DeFi) platform PoolTogether has reached 100% of its legal defense funding goal via the sale of NFTs.It has taken the project just ten days to reach its funding goal of 769 Ether (ETH) or $1.4 million, signaling strong support from the DeFi community who are rallying
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So called “no-loss lottery” DeFi platform PoolTogether has raised 470.90 Ether (ETH) via NFT sales to fund its legal defense against a putative class action lawsuit.That means PoolTogether is more than halfway to its goal to raise at least 769 ETH worth roughly $1.5 million to fight what it
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The larger issue, however, touches all of crypto. In essence, the lawsuit is about decentralization and the responsibility software coders hold once crypto applications go live. “It aims to test the question of whether or not creators can make something, release it on a blockchain and really claim not to
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Kent’s suit names PoolTogether, the Brooklyn-based corporation, and its founder, Brooklyn resident Leighton Cusack, as well as a host of the protocol’s investors, including Dragonfly Capital, Compound Labs and Galaxy Digital Capital Management, as defendants. Individual investors in the project, including Stanislav Kulechov, the founder and CEO of DeFi platform
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No-loss lotteries appear to have found a snug product-market fit. Just a few days after the airdrop of their governance token, POOL, the self-styled “savings game” PoolTogether has cracked $50 million in total value locked with ease, currently sitting above $51 million spread between DAI, USDC, UNI, and COMP lottery pools.
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Coinbase continues to ramp up its support for decentralized finance (DeFi) applications, announcing a fresh $1.1 million investment via its USDC Bootstrap Fund for two projects in the field.The USDC Bootstrap Fund — launched by Coinbase and Circle as part of the Centre Consortium in early fall 2019 —
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One lucky DAI holder won over $1,400 on PoolTogether Friday, reaching a new order of magnitude in prize payouts for risk-averse gamblers.A so-called "no-loss lottery," deposits to the decentralized finance (DeFi) project have been growing fast since its September 2019 launch. PoolTogether’s DAI pool also hit $1 million in locked-in
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