In 2021, Illusory Systems, Inc. developed a cross-chain bridge known as the Nomad Bridge. A “bridge” is a protocol that allows multiple blockchain networks to interact with each other and for users to swap one token for another without having to trade in and out of tokens on an exchange and incur multiple trading fees. While operational, the Nomad Bridge moved more than $912 million worth of crypto assets on behalf of more than 21,000…
Kim Kardashian, Floyd Mayweather, Jr. and Paul Pierce are among the defendants being sued for their role in promoting EthereumMax (“EMAX”), a cryptocurrency project centered around the EthereumMax tokens, a blockchain-based digital asset. The Defendants moved to dismiss the lawsuit. In the decision granting the motion, the Court first noted that Private Securities Litigation Reform Act (“PSLRA”) likely barred the claim based on its excluding RICO claims. To his surprise, however, Defendants did not seek…