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Negligence Blockchain

Seward & Kissel LLP

Leash the Kraken: SEC Sues Kraken

Seward & Kissel LLP on

On November 20, 2023, the SEC filed a complaint in the United States District Court for the Northern District of California against Payward, Inc. and Payward Ventures, Inc. which, together, do business as Kraken. The...more

Proskauer - Blockchain and the Law

Part I: With New DAO Law on the Books, Utah Joins Race with Wyoming and Tennessee to Become U.S. “Crypto Capital”

Little-known legal trivia: In 1977 Wyoming was the first state to pioneer the LLC, which is now a commonly applied legal innovation. Fast forward more than forty years…in July 2021, Wyoming again tried to be at the vanguard...more

Proskauer - Blockchain and the Law

DAO Deemed ‘General Partnership’ in Negligence Suit over Crypto Hack, Prompting Decentralized Orgs to Rethink Corporate Formation

In what appears to be an issue of first impression, a California district court ruled that various defendants allegedly holding governance tokens to the bZx DAO (or “Decentralized Autonomous Organization”), a protocol for...more

Troutman Pepper

Plaintiff, Partner, or Neither? The bZx DAO and the Unknown Tale of Token Approvals

Troutman Pepper on

Seven years ago, Ethereum launched and became the predominant blockchain for developers to build decentralized applications powered by smart contracts (dApps). By leveraging Ethereum's smart-contract compatibility, developers...more

Latham & Watkins LLP

Decentralized Autonomous Organizations: Piercing the Digital Veil

Latham & Watkins LLP on

A complaint filed in federal court will test the boundaries of protection from liability for individuals behind decentralized autonomous organizations. On May 2, 2022, a putative class action was filed in the US District...more

Robins Kaplan LLP

Your Daily Dose of Financial News

Robins Kaplan LLP on

The Times went all in on Twinkies this weekend, with a look at how they came to be and how their comeback recently helped private equity execs laugh their way to the bank....more

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