BREAKING: Yet Another Crypto Company Wastes Millions on Lawsuit That Was Always Going to Lose (Spoiler Alert)

Blockchain Crypto News Ethereum Linda Williams September 24, 2024

A judge's gavel lies on a table, surrounded by scattered papers and broken chains representing dismissed claims. A defeated figure in the background holds a briefcase with 'Consensys' written on it.

Well, it looks like another day, another dollar wasted on trying to legitimize cryptocurrency in court. Because what’s more fun than throwing money at lawyers and judges who are just going to tell you that your precious Ether is still a security? Consensys thought they could beat the SEC with their fancy lawsuit, but Judge Reed O’Connor was all like ‘nope, not so fast’. The judge dismissed their claims because apparently, enforcement actions don’t count as final agency decisions. Who knew?.

Source: cointelegraph

US federal judge tosses Consensys’ suit against SEC

https://cointelegraph.com/news/consensys-lawsuit-sec-dismissed-texas-court

A Texas federal judge has dismissed a lawsuit filed by blockchain development firm Consensys against the Securities and Exchange Commission and its five Commissioners, including Chair Gary Gensler. The suit, launched in April, requested the court declare that Ether (ETH) is not a security, that “Consensys’s sales of ETH are not sales of securities,” and block the SEC from bringing enforcement action over aspects of its MetaMask wallet software, which […]

Tagged as:
Blockchain Development Firm Consensus Mechanisms Cryptocurrency Regulation Ether Price Drop Securities Lawsuit US Federal Court

Share on

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

A stylized illustration depicting a lone figure standing on top of an African savannah landscape with rolling hills and acacia trees, looking out at a distant horizon where a faint outline of the continent's shape is visible. The figure holds a lantern in one hand and gestures towards the future with the other, while a flock of birds fly overhead against a bright blue sky.

Africa Set to Be the Next Crypto Gold Rush… Said No One Who Actually Understands Economics

Crypto News

An illustration of a sinking ship with a massive hole in it, surrounded by waves labeled 'Losses' ($40 billion) and debris marked '$4.47 billion settlement'. In the background, a figure (Do Kwon) is shown running away from the wreckage while holding a briefcase.

Terraform Labs Gets Court Approval to Shut Down, Because Who Needs Actual Value When You Can Just Make Up $40 Billion and Watch It All Go Poof?

Bitcoin

Disclaimer

Please do not hesitate to contact us if you have any questions or concerns.

We are the internet’s finest destination for poking fun at the wild world of cryptocurrency! We transform the bewildering jargon and frantic hype of the crypto market into a comedy spectacle that’s almost as volatile as crypto itself.

BREAKING: Yet Another Crypto Company Wastes Millions on Lawsuit That Was Always Going to Lose (Spoiler Alert)

Previous

Next

You may also like

Disclaimer