PoolTogether Pools Together 471 ETH For Legal Defense Fund

PoolTogether, a “no-loss” lottery DeFi platform, was hit by a class-action lawsuit led by the former technology lead for Senator Elizabeth Warren’s 2020 presidential campaign, Joseph Kent. After he deposited around $12 worth of stablecoins into the protocol, Ken took action against the projectallegingthat PoolTogether is operating an illegal lottery in New York and argues that the platform “may never offer a positive expected value” due to keeping as much as 50% of each weekly prize as a reserve.

However, the community has leaped up against this frivolous lawsuit and obvious money-grab and have helped the protocol gather 471 ETH, over half their target and with 12 days still to go. Again, the community comes together to help fight against an injustice. Kent has been notoriously anti-crypto and I hope this suit ends as fast as the campaign he worked on ended.

Written by: nikethereum.eth