Cosmos Is Going To Have A Serious Chaotic Legal Battle
Key Points:
- All in Bits (AIB), a Cosmos network software development company, has launched a lawsuit against its former growth and strategy chief Grace Yu.
- Yu launched a public campaign earlier this year against All in Bits’ “immoral conduct.”
- All in Bits feels Yu’s activism and criticism have gone too far.
According to DL News, All in Bits (AIB), a Cosmos network software development company, sued its former growth and strategy chief Grace Yu in March this year, charging her of allegedly denigrating the blockchain network, which breached the conditions of her contract.
The issue has sparked debate for Cosmos, a system meant to build linked blockchains, as well as Kwon, the CEO of All in Bits. More than $1.5 billion in cryptocurrency is stored on Cosmos-based blockchains, including Kava, Osmosis, and Canto.
Grace Yu, who had worked with the organization for three months, quit in January of this year. Validators urged Cosmos founder Jae Kwon to dismiss the case against Yu a month ago, but Yu now claims she was informed that not only would the litigation not be dropped but that they would submit a supplementary complaint with some more allegations.
Yu launched a public campaign earlier this year against All in Bits’ “immoral conduct.” Under the banner of “freedom,” Yu attempted to persuade the corporation to remove the non-compete provision in former developer Denis Fadeev’s contract. Fadeev intended to “fork” the code he built at All in Bits after quitting the firm last year so he could continue his work.
Yu said in February that All in Bits’ nondisclosure agreements are generally known and that nondisclosure agreements and nondisclosure agreements should not be exploited to conceal a history of workplace bullying, harassment, and discrimination. Yu termed All In Bits a “pathological and hostile organization” in another tweet.
All in Bits feels Yu’s activism and criticism have gone too far. In the complaint, the corporation claims that a provision in her contract forbids her from saying anything, public or private, that might harm the company’s image. The corporation is suing for attorney’s costs and at least $150,000 in damages.
In March, the company claimed that:
“All in Bits (AiB) has taken a stand against an ongoing disparagement and disinformation campaign that has been harmful to our reputation and is creating a toxic culture that is detrimental to the Cosmos ecosystem.”
Yu claims she knows the applicant in the issue since she hired him during her three-month stint at All in Bits, according to DL News. According to Yu, after she and the rest of her colleagues were let off in January, the applicant decided he no longer wanted to work at All in Bits. Yu said in a March Crowdfunding effort to seek funds for her defense:
“They have become an all-too-common tool for intimidating and silencing criticism through expensive, baseless legal proceedings.”
The endeavor only raised half of its $50,000 target. Yu’s friends made a plea to the Cosmos Hub community, proposing to commit around $600,000 in ATOM from the Cosmos Hub treasury to Yu’s defense.
About half of those who voted rejected the plan, and another 30% voted “no with veto,” indicating that they thought the proposal was spam.
Some days later, Yu’s friends polled the Cosmos community once again. They didn’t ask for money this time; instead, they urged the community to endorse a request that All in Bits dismiss the case.
Cosmos validators did precisely that in a symbolic vote last month, urging Kwon to back down. The proposal was approved with a slim majority of ATOM tokens in favor and a clear majority of entities voting. Meanwhile, Yu is creating a digital autonomous organization, or DAO, dedicated to defending the legal rights of Cosmos network participants.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
Author
News
Cosmos Is Going To Have A Serious Chaotic Legal Battle
Key Points:
- All in Bits (AIB), a Cosmos network software development company, has launched a lawsuit against its former growth and strategy chief Grace Yu.
- Yu launched a public campaign earlier this year against All in Bits’ “immoral conduct.”
- All in Bits feels Yu’s activism and criticism have gone too far.
According to DL News, All in Bits (AIB), a Cosmos network software development company, sued its former growth and strategy chief Grace Yu in March this year, charging her of allegedly denigrating the blockchain network, which breached the conditions of her contract.
The issue has sparked debate for Cosmos, a system meant to build linked blockchains, as well as Kwon, the CEO of All in Bits. More than $1.5 billion in cryptocurrency is stored on Cosmos-based blockchains, including Kava, Osmosis, and Canto.
Grace Yu, who had worked with the organization for three months, quit in January of this year. Validators urged Cosmos founder Jae Kwon to dismiss the case against Yu a month ago, but Yu now claims she was informed that not only would the litigation not be dropped but that they would submit a supplementary complaint with some more allegations.
Yu launched a public campaign earlier this year against All in Bits’ “immoral conduct.” Under the banner of “freedom,” Yu attempted to persuade the corporation to remove the non-compete provision in former developer Denis Fadeev’s contract. Fadeev intended to “fork” the code he built at All in Bits after quitting the firm last year so he could continue his work.
Yu said in February that All in Bits’ nondisclosure agreements are generally known and that nondisclosure agreements and nondisclosure agreements should not be exploited to conceal a history of workplace bullying, harassment, and discrimination. Yu termed All In Bits a “pathological and hostile organization” in another tweet.
All in Bits feels Yu’s activism and criticism have gone too far. In the complaint, the corporation claims that a provision in her contract forbids her from saying anything, public or private, that might harm the company’s image. The corporation is suing for attorney’s costs and at least $150,000 in damages.
In March, the company claimed that:
“All in Bits (AiB) has taken a stand against an ongoing disparagement and disinformation campaign that has been harmful to our reputation and is creating a toxic culture that is detrimental to the Cosmos ecosystem.”
Yu claims she knows the applicant in the issue since she hired him during her three-month stint at All in Bits, according to DL News. According to Yu, after she and the rest of her colleagues were let off in January, the applicant decided he no longer wanted to work at All in Bits. Yu said in a March Crowdfunding effort to seek funds for her defense:
“They have become an all-too-common tool for intimidating and silencing criticism through expensive, baseless legal proceedings.”
The endeavor only raised half of its $50,000 target. Yu’s friends made a plea to the Cosmos Hub community, proposing to commit around $600,000 in ATOM from the Cosmos Hub treasury to Yu’s defense.
About half of those who voted rejected the plan, and another 30% voted “no with veto,” indicating that they thought the proposal was spam.
Some days later, Yu’s friends polled the Cosmos community once again. They didn’t ask for money this time; instead, they urged the community to endorse a request that All in Bits dismiss the case.
Cosmos validators did precisely that in a symbolic vote last month, urging Kwon to back down. The proposal was approved with a slim majority of ATOM tokens in favor and a clear majority of entities voting. Meanwhile, Yu is creating a digital autonomous organization, or DAO, dedicated to defending the legal rights of Cosmos network participants.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Harold
Coincu News
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