A case before a federal judge in California is testing whether a limited liability company appointed by the members of a decentralized crypto group has standing to respond to token buyers and financial regulators in court.
The crypto outfit, Lido DAO—short for decentralized autonomous organization—is facing a lawsuit from crypto users who accuse it of selling unregistered securities.
Weighing how or whether to respond to the suit, Lido DAO’s members in July voted to appoint an LLC that would be funded up to $200,000. The LLC would appear in court for Lido DAO and, with the help of lawyers, file ...
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