{"id":7517,"date":"2023-06-08T15:01:41","date_gmt":"2023-06-08T15:01:41","guid":{"rendered":"https:\/\/www.bitrabo.com\/community\/us-judge-dismisses-lawsuit-against-defi-startup-pooltogether\/"},"modified":"2023-06-08T15:02:16","modified_gmt":"2023-06-08T15:02:16","slug":"us-judge-dismisses-lawsuit-against-defi-startup-pooltogether","status":"publish","type":"post","link":"https:\/\/www.bitrabo.com\/discover\/us-judge-dismisses-lawsuit-against-defi-startup-pooltogether\/","title":{"rendered":"US Judge Dismisses Lawsuit Against DeFi Startup, PoolTogether"},"content":{"rendered":"\n<div>\n<p>The DeFi protocol, PoolTogether, has received good news as the 2-year-old lawsuit against it has finally been dismissed by US federal judge Frederic Block.<\/p>\n<p>Joseph Kent, the former head of tech for Senator Elizabeth Warren\u2019s presidential campaign, filed a reformed class action lawsuit against PoolTogther Inc in October 2022, alleging that the protocol was running an illegal lottery and casino in New York and withholding 50% of weekly wins as reserves. However, Judge Block disagreed with Kent&#8217;s argument and dismissed the lawsuit on the ground that he lacked standing to sue in federal court and suggested that the matter should appear before a state court.<\/p>\n<p>PoolTogether&#8217;s co-founder, Leighton Cusack, shared the update on Twitter, expressing his excitement that the court has dismissed the case.<\/p>\n<p>Following the motion dismissal, Kent can pursue his claims in state court, but some notable players in the DeFi space have supported PoolTogether&#8217;s legal bills with $1.4 million in funds raised from Pooly NFT sales.<\/p>\n<p>The DeFi community can now breathe a sigh of relief after the ruling.<\/p>\n<figure style=\"width: 979px\" class=\"wp-caption aligncenter\"><figcaption class=\"wp-caption-text\">Defi protocol\u2019s native token POOL is currently hovering at $1.0571. | Source: POOLUSD price chart from<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/chart\/\"> TradingView.com<\/a><\/figcaption><\/figure>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The DeFi protocol, PoolTogether, has received good news as the 2-year-old lawsuit against it has finally been dismissed by US federal judge Frederic Block. Joseph Kent, the former head of tech for Senator Elizabeth Warren\u2019s presidential campaign, filed a reformed class action lawsuit against PoolTogther Inc in October 2022, alleging that the protocol was running [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":7519,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"US Judge Dismisses Lawsuit Against DeFi Startup, PoolTogether - Bitrabo","description":"The DeFi protocol, PoolTogether, has received good news as the 2-year-old lawsuit against it has finally been dismissed by US federal judge Frederic Block. Jose"},"footnotes":""},"categories":[316],"tags":[551,1611,1130,747,1646,1645],"class_list":["post-7517","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-defi","tag-dismisses","tag-judge","tag-lawsuit","tag-pooltogether","tag-startup"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/7517","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=7517"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/7517\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/7519"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=7517"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=7517"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=7517"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}