Block.one settled a class-action lawsuit filed by the Crypto Assets Opportunity Fund related to the company’s recording-setting $4 billion token sale in 2018.

  • The court-approved $27.5 million settlement closes the lawsuit, Block.one announced Friday.
  • Block.one called the suit “without merit” in a blog post but said the settlement would allow it “to focus more time and energy on running our business.”
  • Block.one previously settled with the U.S. Securities and Exchange Commission for $24 million over the alleged unregistered securities sale.
  • Block.one raised the whopping sum at the peak of the crypto market’s last bull run to build the software that powers the EOS blockchain.

This is a developing story and will be updated.


Source: Coindesk

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