• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Legal Battle erupts over $11.2 million in USN

Legal Battle erupts over $11.2 million in USN

user avatar

by Liza Tanasova

2 years ago

Crypto market maker Wintermute is exploring legal action against the NEAR Foundation and Aurora after an alleged failure to convert $11.2 million worth of USN stablecoins. Wintermute CEO Evgeny Gaevoy accused NEAR of backing out of a commitment to facilitate the sale of USN, which Wintermute had been working on as part of asset liquidation for creditors.

Wintermute claims NEAR originally assured them that USN could be redeemed for Tether (USDT) at a 1:1 ratio. However, NEAR later refused to honor this agreement. Wintermute received a 20% repurchase offer from NEAR, which they find unsatisfactory, and they are considering legal action.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Oil Prices Surge Past $111 Amid US-Iran Tensions

chest

Oil prices surged past $111 amid ongoing US military operations against Iran, raising concerns about potential disruptions in the Strait of Hormuz.

user avatarEmily Carter

USDC and Ethereum's Social Media Trends Analyzed

chest

The social media chatter surrounding USDC has been significantly influenced by regulatory actions and the ongoing scrutiny of its reserves, while Ethereum's consistent presence reflects its position as the second-largest cryptocurrency and its role in the DeFi ecosystem.

user avatarTomas Novak

ALTBTC Chart Indicates Potential Altcoin Rally

chest

The ALTBTC chart has shown four consecutive green monthly candles, signaling a potential shift in market dynamics.

user avatarMaya Lundqvist

Dmail and Magic E Updates Lack Confirmation

chest

Dmail and Magic E updates remain unconfirmed due to lack of official announcements.

user avatarAisha Farooq

IPO Genie Gains Analyst Attention for Its Innovative Crypto Presale

chest

IPO Genie is gaining attention from analysts due to its innovative approach and potential for high returns.

user avatarLi Weicheng

Aave v4 Officially Launches on Ethereum

chest

Aave Labs announced the official launch of Aave v4 on Ethereum after receiving governance approval and completing a 345-day security review.

user avatarLeo van der Veen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.