{"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\u2019s 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\u2019s 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\u2019s 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}]}}