• 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

UBS and Major Swiss Banks Collaborate on Swiss Franc Stablecoin Initiative

chest

UBS collaborates with five major Swiss banks to explore a Swiss franc-based stablecoin through a digital sandbox environment.

user avatarJesper Sørensen

Bitcoin Hashrate Declines Amid Market Changes

chest

The global Bitcoin Hashrate has seen a significant decline due to various market factors.

user avatarRajesh Kumar

Cardano Sees Surge in Whale Activity, Indicating Increased Investment

chest

Cardano network experiences a surge in whale activity, indicating increased investment as large wallet holders reach a four-month high.

user avatarFilippo Romano

Bitcoin Mining Power Remains Concentrated Among Top Nations

chest

A new report reveals that the top three nations control 65% of Bitcoin's mining power, with the US leading.

user avatarLucas Weissmann

Dogecoin Whales Accumulate 500 Million Tokens Amid Price Squeeze

chest

Dogecoin whales have engaged in significant net buying, accumulating 500 million tokens last week amid a price squeeze.

user avatarEmily Carter

Grayscale Research Highlights Urgent Quantum Computing Threats

chest

Grayscale Research warns the crypto industry about urgent threats posed by quantum computing to blockchain encryption, highlighting the need for proactive measures.

user avatarTomas Novak

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.