DWF Labs subsidiaries sue BitGo for $141 million over alleged token lock-up breach
DWF is seeking $114 million in damages on the basis BitGo’s token sales resulted in direct losses through the fall in tokens’ prices.
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Summary
- DWF Labs subsidiaries DWF Maas and Falcon Digital sued cryptocurrency custodian BitGo in London, alleging it sold discounted FF and ESPORTS tokens before their three-month lock-up periods expired.
- The companies are seeking $114 million in damages, arguing that BitGo’s early sales caused the tokens’ prices to fall sharply.
- DWF said it raised the issue with BitGo in April and May but pursued legal action after the company did not provide an undertaking.
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As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters:
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
