lawsuit against Coinbase CEO backed company ResearchHub
A lawsuit has been filed against ResearchHub. According to the filing, this ResearchHub is working on the concept, which is based on Stolen ideas.
Coinbase is a popular crypto exchange in the US and this exchange is popularly known to work under compliance of regulatory framework. Overall we can say, Coinbase is that exchange of the Crypto space, which is working more perfectly and precisely by following the regulatory rules and guidelines in comparison to other crypto firms. But the latest case may spoil the positive image of this exchange.
On Friday of last week, MouseBelt Labs, a blockchain accelerator company filed a lawsuit against the popular crypto exchange Coinbase with the Superior Court of the State of California.
According to the filed lawsuit, ResearchHub is working on the same concept at which Knowledgr was already working.
Knowledgr Is a company that is funded by MouseBelt Labs. And this company is working on a particular concept-based work, but the company or its works are not launched yet.
ResearchHub is owned by Coinbase CEO Brian Armstrong, so this case is against Brian. And it may spoil the image of the Coinbase exchange badly. However, here it will be too early to say anything about this matter because Coinbase CEO hasn’t responded on this matter yet.
According to the filing, Coinbase CEO was offering to invest in the Knowledgr Project so that he can steal some resources that MouseBelt’s’ Knowledgr has.
The filing also explained this matter in detail. According to filing, Patrick Joyce, founder of Knowledge, was told by Brian that he can invest in a Knowledgr Competitor company ( in his own company ResearchHub) but he can invest in Knowledgr if they can give more information about it.
According to Plaintiff, this was all a ruse,” as Armstrong had already been developing ResearchHub “for over six months” and “saw Joyce and Knowledgr as a dramatic time- and cost-saving hack.”
Patrick Joyce joined ResearchHub in 2020. And filing claimed that the use of tradable assets on ResearchHub is similar to the Knowledge.
Here the whole thing may be part of the coincidence or maybe a game of power. But here we can’t say that Coinbase or Coinbase CEO is wrong because everything is under the lawsuit and a final hearing will decide everything.
