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Prior to its filing, some crypto enthusiasts scoffed at the prospect of any lawsuit against pump.fun, including blockchain sleuth ZachXBT: Tweet by zachxbt: “degenerate gamblers willingly choosing to gamble on micro-cap meme coins are not actual victims or investors”, with the clapping emoji between each word One of Burwick’s founding partners, however, argued (as I have in the past) that the type of crypto activity dismissed as “gambling” is often actually far riskier than gambling, at least when it comes to the regulated variety, and that crypto activity like this is more akin to gambling in a rigged game.4 Burwick, a relatively new firm, focuses on crypto class actions. Late last year, they filed suit against the creators of the failed “Hawk Tuah” crypto token [W3IGG] and against Caitlyn Jenner over her apparently abandonedb $JENNER token [W3IGG]. It remains to be seen how their lawsuits fare when it comes to grabbing legal victories in addition to just headlines.

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Prior to its filing, some crypto enthusiasts scoffed at the prospect of any lawsuit against pump.fun, including blockchain sleuth ZachXBT: Tweet by zachxbt: “degenerate gamblers willingly choosing to gamble on micro-cap meme coins are not actual victims or investors”, with the clapping emoji between each word One of Burwick’s founding partners, however, argued (as I have in the past) that the type of crypto activity dismissed as “gambling” is often actually far riskier than gambling, at least when it comes to the regulated variety, and that crypto activity like this is more akin to gambling in a rigged game.4 Burwick, a relatively new firm, focuses on crypto class actions. Late last year, they filed suit against the creators of the failed “Hawk Tuah” crypto token [W3IGG] and against Caitlyn Jenner over her apparently abandonedb $JENNER token [W3IGG]. It remains to be seen how their lawsuits fare when it comes to grabbing legal victories in addition to just headlines.
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Molly White (molly0xfff@hachyderm.io)'s status on Saturday, 18-Jan-2025 09:48:56 JST Molly White
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There’s a class action lawsuit against the pump.fun memecoin platform, and it looks... messy. The lead plaintiff, down $50,000 across the board but only suing over a $230 loss of the “PNUT” token, has continued trading on the platform he’s suing even after the lawsuit was filed.
#crypto #cryptocurrency

In conversation about 6 months ago from hachyderm.io permalink