DEX in the City: Class Actions in Crypto Are on the Rise. Are They More Dangerous Than SEC Enforcement?- Ep. 968
Description
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Class action lawsuits targeting crypto firms are on the rise. While observers often brush off the cases as opportunistic, they may be more of an existential threat than many think.
In this episode of DEX in the City, hosts Jessi Brooks of Ribbit Capital, Katherine Kirkpatrick Bos of StarkWare, and Vy Le of Veda unpack what class action suits are and why they may be more of a threat to crypto than enforcement actions.
Katherine breaks down the derivative case against Coinbase while Jessi explains why Binance has “bad facts” in the Hamas case. Meanwhile, Vy explains why the tussle over prediction markets like Kalshi by state gambling regulators could make it to the Supreme Court.
Plus, China's crypto crackdown and the CME's outage.
Hosts:
Jessi Brooks, General Counsel at Ribbit Capital
Katherine Kirkpatrick Bos, General Counsel at StarkWare
TuongVy Le, General Counsel at Veda
Links:
Unchained:
DEX in the City: Insider Trading and Crypto: What the Law Actually Says
DEX in the City: Are Prediction Markets Gambling, and Who Should Regulate Them?
Why Crypto Market Structure May Not Pass Until 2027: DEX in the City
Mistrial Declared After ‘MEV Brothers’ Accused of $25 Million Exploit
Timestamps:
🚀 00:00 Introduction
🤔 3:21 What is a class action?
💥 7:23 Why class action suits may be more dangerous for crypto than enforcement actions
💡 10:27 How the courts are trying to prevent class action abuse
🚦 11:57 The policy aspect to class action lawsuits
👀 14:05 What’s interesting about the Coinbase derivative lawsuit
📝 16:27 Why Binance has "bad facts" in the Hamas suit, per Jessi
👀 21:45 Why Kalshi's Nevada case could make it to the Supreme Court
💡 27:18 Vy highlights Kalshi's strongest argument in the Nevada case
🫠 28:34 Why crypto cases are difficult to try in front of juries
🤔 33:10 What does it mean to ban crypto?
❕️34:42 What is driving the crypto crackdown in India and China
🧏 42:38 How the CME's recent outage highlights the need for decentralization
💥 45:54 Good news pieces for the week
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