The post Joseph Lubin is charged with asset manipulation! appeared first on Coinpedia Fintech News

Joseph Lubin, an Ethereum co-founder, is facing a lawsuit from over two dozen former employees of Consensys, the blockchain software development firm he co-founded. The plaintiffs allege that Lubin and other parties manipulated assets in Consensys AG, a Swiss holding company, resulting in their shares becoming worthless. The assets, which included the web3 wallet MetaMask, partly developed by some of the plaintiffs, were transferred to a new US-based firm, CSI, in 2020 to enable outside investment. The complaint argues that Lubin violated equity promises made to employees and enriched himself at their expense. CSI is now valued at over $7 billion.

The post Joseph Lubin is charged with asset manipulation! appeared first on Coinpedia Fintech News

Joseph Lubin, an Ethereum co-founder, is facing a lawsuit from over two dozen former employees of Consensys, the blockchain software development firm he co-founded. The plaintiffs allege that Lubin and other parties manipulated assets in Consensys AG, a Swiss holding company, resulting in their shares becoming worthless. The assets, which included the web3 wallet MetaMask, partly developed by some of the plaintiffs, were transferred to a new US-based firm, CSI, in 2020 to enable outside investment. The complaint argues that Lubin violated equity promises made to employees and enriched himself at their expense. CSI is now valued at over $7 billion.