Ex-Consensys Staff Sue Consensys Founder Joseph Lubin

💡 Ex-Employees Sue Consensys CEO Joseph Lubin Over Alleged Equity Dilution

Over two dozen ex-employees of Ethereum infrastructure company Consensys have sued its CEO, Joseph Lubin, alleging he broke a 2015 "no-dilution" promise on employee equity shares.

The plaintiffs claim Lubin profited while they received nothing, as shares in Consensys AG became "worthless" after assets were transferred to a new U.S.-based entity in 2020. JPMorgan is also named as a defendant. Consensys dismisses the claims as "frivolous". However, Switzerland's High Court of Zug sided with the plaintiffs.

Read more.

"Consensys and JPMorgan: An unexpected consensus on equity disputes"

☕️ On today's Top Picks:

📰 Crypto News

• Ex-Consensys staff sue Consensys founder, Joseph Lubin; claiming Lubin diluted their equity shares despite a no-dilution promise being made in 2015. Consensys calls the claims, "frivolous”.

• SEC drops lawsuit against Ripple and XRP executives. With that said, some analysts believe the SEC dropped the charges to avoid a lengthy trial and to bring the case before an appeals court faster.

• New York Attorney General (NYAG) sues Gemini Trust, Genesis Global, and Digital Currency Group (DCG) for allegedly defrauding investors of more than $1 billion. Charges against former Genesis CEO Soichiro Moro and DCG CEO Barry Silbert were also filed.

• Binance France executive director, Stéphanie Cabossioras; steps down becoming the 10th senior executive to leave Binance this year.

• Blackrock and Grayscale file updates for the Bitcoin ETF applications. Analysts believe these updates are a result of the SEC conversing with the firms. JPMorgan expects Bitcoin ETF approvals within months.

• Tether plans to publish its reserve data in real-time beginning next year.

• Binance announces new fiat partners for Euro $EUR payments, deposits, and withdrawals.

• Base open sources its smart contract repos and web properties. Base attributes the move to foster increased transparency and collaboration.

• Aptos Network shuts down for more than 5 hours after hosting an onchain mass drawing event to celebrate its one-year anniversary. The cause of the shut down was pointed to a faulty code change made in August.

⚡ Alpha

• Claim a KZG Ceremony POAP if you previously completed the KZG Ceremony.

• Starknet Quest adds two new onboarding quests and one dapp quest. Complete Starknet Giga Brain Quiz, Account Abstraction Mastery Quiz, and Focus Tree - Attentiveness Tree Quest to earn three NFT's.

• Omni Network Overdrive campaign features Catalyst mission on Galxe. Complete the mission to earn points and an OAT. Omni Network previously raised $18 million in funding.

• Catalyst Lynx testnet mission features Omni Network on Galxe. Complete the mission to earn points and an OAT. Catalyst previously raised $4.2 million in funding.

• DeBank releases new Web3 Badge. Users who won a total of at least $1 in Lucky Draw are eligible to claim beginning October 21st at 00:00 UTC.

• Gitcoin Grants 19 is scheduled to launch on November 15th to November 29th.

🪂 Airdrops

• Celestia allocates unclaimed $TIA tokens to Genesis Drop participants. Users can check their finalized balances on the Genesis Drop webpage.

📰 Finance News

• US Treasury Department plans to designate international cryptocurrency mixers as money-laundering hubs. If the proposed rule is adopted, financial institutions would be required to report any transactions involved in mixers.

• Elon Musk & Mark Cuban file joint amicus brief at the Supreme Court highlighting the SEC’s practice of conducting internal trials without juries. They that these administrative proceedings lead to disparate outcomes for individuals facing SEC charges.

• Tesla's lastest quarterly financial report shows it did not buy or sell any Bitcoin $BTC in Q3 2023. Tesla holds ~9720 Bitcoin worth ~$290 million.

• US 10-year Treasury yield hits 5% after remarks by Federal Reserve Chairman Jerome Powell.

🛡 Security and Exploits

• Revoke cash adds support for opBNB network.

Token Unlocks

• Space ID $ID - 18.49M ~$3.31M on OCT 21

• Cartesi $CTSI - 21.43M ~$2.75M on OCT 22

• SynFutures, a decentralized derivatives protocol; raises $22 million in Series B funding round led by Pantera Capital.

• Forge, a gamefi platform, raised $11 million in Seed funding round led by Makers Fund, BITKRAFT Ventures, and Animoca Brands.

• Coin Metrics, a cryptoasset market and network data firm; raises $6.7 million.

• Ryder, a hardware wallet secured by your social circle; raises $1.2 million.

🌾 The Degen Farmer

Top stablecoin yield farms of the day, more than $1,000,000 in TVL. DYOR and beat the fed!

That's it for today's dose! See you soon.