- MouseBelt brought the litigation in San Francisco, in the state of California.
- Armstrong is said to have given Knowledgr’s CEO an investment.
A blockchain firm has filed a lawsuit against Brian Armstrong, the CEO of Coinbase, alleging that he stole their technology while passing it off as an investment. It was filed by MouseBelt Labs, a corporation that has spent money and effort into Knowledgr. This is comparable to the CEO of Coinbase’s ResearchHub, which uses tokens in the same way that Bitcoin does.
Armstrong is said to have given Knowledgr’s CEO an investment. After learning of the latter’s early start on his own initiative. His platform also offered to host the tokens of Knowledgr, which he claimed to be interested in doing.
The unidentified Knowledgr CEO was reportedly buried in college debts when the offer was made. Armstrong is accused of “diverting” the project’s resources into his own efforts when a competitor is eliminated.
Not the First Time for Brian Armstrong
MouseBelt brought the litigation in San Francisco, in the state of California. The complete text of the lawsuit is available on Scribd. However, this isn’t precisely the first time cryptocurrency billionaire and Coinbase CEO Brian Armstrong has been involved in a court struggle. When Armstrong’s interest-earning scheme was first announced in September, the Securities and Exchange Commission (SEC) filed a lawsuit against him for it.
As to The Washington Post, Armstrong was forced to address the issue. Due to the lawsuit being filed against him. In a 21-part Twitter thread. He stated that the Securities and Exchange Commission (SEC) had classed Coinbase’s product as a sort of security that needed to be registered with the United States government (the US).