• 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

FLOKI and Shiba Inu: Resilient Players in the Meme Coin Space

chest

FLOKI and Shiba Inu continue to demonstrate their resilience as top meme coins, showcasing community engagement and utility-focused projects in the volatile crypto market.

user avatarRajesh Kumar

Apeing Whitelist: Your Strategic Edge in Crypto Investment

chest

Joining the Apeing whitelist is a strategic move for crypto investors, providing early access and priority allocation of APEING tokens, which can lead to substantial gains.

user avatarJesper Sørensen

Aave Community Weighs Proposal to Shut Down Low-Profit Multichain Services

chest

The Aave community is discussing the potential termination of low-profit multichain services to focus on more profitable networks.

user avatarLucas Weissmann

Past Tech Rallies Linked to Crypto Growth in 2023

chest

Historical trends show positive correlations between tech rallies and crypto recoveries, signaling cautious optimism.

user avatarTenzin Dorje

Kyobo Life Insurance Explores Blockchain Applications in Insurance via Arc Testnet

chest

Kyobo Life Insurance explores blockchain applications in the insurance sector through the Arc testnet, aiming for enhanced claims processing, security, and operational efficiency.

user avatarFilippo Romano

Kyobo Life Insurance Takes Bold Step into Blockchain with Arc Testnet Participation

chest

Kyobo Life Insurance has joined the Arc testnet to explore stablecoin infrastructure.

user avatarEmily Carter

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.