- MouseBelt filed a case against Brian Armstrong in the Supreme Court of California.
The Chief Executive Officer of Coinbase, Brian Armstrong, is alleged to have robbed the work of a blockchain accelerator under the guise of investing in one of his projects.
On 7 October, last Friday, MouseBelt Labs lodged a complaint in the supreme of California, highlighting that in June 2019, Brian Armstrong proposed to invest in Knowledgr it is a platform that circulates scientific papers along with tokens offered as an incentive so he can use secret data for research a likewise platform on which he was working and can destroy experts a contestant.
The complaint filed by MouseBelt Labs against Armstrong highlights that Brian provides financial support to the experts in which the firm MouseBelt was already an investor and the opportunity to list the token on Coinbase. The accelerator alleges that Armstrong, Coinbase, and concerned institutions fraudulently intervened in a contract and were unjustly rich in other allegations.
The firm is demanding loss and other forms of relief as part of the jury trial.
MouseBelt also blamed CEO Armstrong for contacting the founder Patrick Joyce at the end of June 2019 to individually invest $50,000 for just a 1% share of Coinbase, which creates a big investment subject for proper hard work. The $50,000 was sent to knowledge in the second half of July.
According to the complaint, it is mentioned that Brian aimed “steal MouseBelt’s work for themselves, to not only eliminate a potential competitor but to obtain for ResearchHub the benefits of the financial, design and technical resources MouseBelt put into Knowledgr, thereby allowing ResearchHub to launch sooner at less cost a successful platform based entirely or substantially on MouseBelt’s work.”
The complaint highlights that Brian promised Joyce to provide a job opportunity if he would contribute to ResearchHub while holding his post of chief executive at Knowledgr while misguiding MouseBelt labs in the process.
At this time, MouseBelt also blames Joyce used an algorithm originally intended for Knowledgr for ResearchHub instead.
MouseBelt questioned whether Joyce had recently been in contact with Armstrong or ResearchHub. Joyce answered the questions of MouseBelt and stated that neither he nor anyone else at Knowledgr had been in touch with Armstrong during the previous four months.
The lawsuit claimed that Joyce might later admit the truth: Armstrong had asked Joyce to work on ResearchHub simultaneously. The leaking of this information was a breach of Knowledgr agreements with MouseBelt and was done to conceal Joyce and Knowledgr’s inappropriate actions.”
Earlier on October 6, TheCoinRepublic reported that Shopify CEO Bought $3M Worth of Coinbase Shares During the Past 2 Months. On August 11, Lütke purchased 3,930 COIN shares for $97.24 each. On August 16, Lütke purchased 4,023 shares for $90.55 each, five days later.
According to the acquisition records, since August 11, he has paid approximately $369,500 weekly for COIN shares. Shopify’s billionaire founder and CEO is a core member of the Ruby on Rails project and is deeply interested in technology.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.