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Crypto-Savings lawsuit puts DeFi to test
- indus 5y ago"The lawsuit, filed by a software engineer named Joseph Kent, has challenged the legality of the cryptocurrency savings application called PoolTogether, saying the scheme is essentially a lottery and prohibited under New York law."
- sharemywin 5y agoMr. Cusack, PoolTogether’s founder, also has defended the protocol against the lawsuit. “It’s filed by someone who works in politics and the stated motivation is that cryptocurrencies are bad for the environment,” he wrote in November on a PoolTogether message board. He added: “It’s clearly written by someone who doesn’t understand how protocols operate or even what PoolTogether is.”