Crypto investors are now following not only price analyses, but also the opinions of lawyers. Lawsuits are being filed one after another and we may soon see new cases. One of them concerns EOS investors. The problem here, as we have previously explained many times, is related to Block One.
$1 Billion Crypto Lawsuit
EOS Network Foundation has become the latest organization to initiate legal action against major investor Block One, alleging that it failed to fulfill its $1 billion investment commitments. Yves La Rose, the founder and CEO of ESN, announced on Twitter on July 25th that ESN is preparing to file a lawsuit against B1 for not fulfilling its “1 billion dollar commitment.”
According to the CEO, Block One is already working to settle another class-action lawsuit for $22 million after rejecting a proposed $27.5 million settlement with the lead plaintiff, Crypto Assets Opportunity.
La Rose stated that the class-action lawsuit in the United States, which was initiated in 2017, is still in the process of being resolved. The CEO also mentioned that plaintiffs who wish to withdraw from the lawsuit can contact attorney James Koutoulas.
La Rose emphasized that the deadline for making a request or withdrawing from the US class-action lawsuit is August 23, 2023;
“If you withdraw from the class-action lawsuit in the US, there is no guarantee that you can make another claim against Block One or that such a claim will be successful.”
$4.2 Billion Raised
La Rose wrote that the EOS community is facing major problems due to Block One’s failure to fulfill its commitment to invest in the EOS Network and community. ENF actively works with stakeholders to ensure that Block One is held accountable for its promises.
As previously reported, Block One, the company behind EOS, raised $4.1 billion in an ICO in 2018. At the time of writing, the EOS price is trading at $0.74. After reaching $15.6 during the 2018 bull run, the price has not surpassed $15 in 2021.
