• 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

Political Challenges Affect BRICS DeDollarization Efforts

chest

Political dynamics are significantly influencing the BRICS dedollarization efforts, as leaders navigate challenges such as tariff threats and varying economic conditions among member states.

user avatarKaterina Papadopoulou

BRICS Countries Implement Local Currency Trade and Commodity-Backed Finance

chest

BRICS nations are advancing local currency trade and commodity-backed finance strategies, although reactions among member states vary.

user avatarTomas Novak

Nvidia's H200 Chip Production Halted by Chinese Customs

chest

Chinese customs officials have blocked shipments of Nvidia's H200 AI accelerator, impacting the company's access to the Chinese market.

user avatarJacob Williams

DOJ Launches Investigation into Federal Reserve Renovation Costs

chest

The Department of Justice has launched an investigation into the Federal Reserve's renovation costs, which have escalated from $19 billion to approximately $25-26 billion.

user avatarSon Min-ho

xAI Faces Legal Challenges While Raising $20 Billion

chest

xAI is facing lawsuits over Grok's generation of nonconsensual images while raising $20 billion in funding.

user avatarKofi Adjeman

Monero Experiences Significant Decline After Recent Rally

chest

Monero's price has dropped 12% in a day after reaching an all-time high, while other altcoins remain stagnant.

user avatarNguyen Van Long

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.