cryptofamily

It's been a while since I've had news from the crypto world on my page. I stand corrected...

A federal court in Texas has issued a judgment in absentia against Bancor DAO. 

The decision was the result of the defendant's failure to appear for a subpoena posted in January 2024 on the forum of the decentralized autonomous organization.

The court sided with the plaintiffs, who filed a class action lawsuit in May 2023. They accused Bancor of defrauding investors, claiming that the protocol concealed liquidity problems that arose in 2022 and also provided false information about the effectiveness of an impermanent loss protection (ILP) mechanism.

According to the lawsuit, the Bancor token (BNT) was an unregistered security and the Bancor DAO itself was an unincorporated general partnership between vBNT token holders.

You can't go back and change the beginning, but you can start where you are and change the ending. 
- C. S. Lewis