Crypto News

Coinbase CEO Brian Armstrong reportedly sabotaged a startup to help his own project, the blockchain accelerator firm says

                                                            Wie weit würden Sie gehen, wenn Sie erkennen würden, dass jemand eine Ihrer Meinung nach revolutionäre Idee auf den Markt bringen würde, die Ihnen vor allen anderen einfiel?  Eine Beschwerde, die am Freitag in Kalifornien von MouseBelt Labs, einem Blockchain-Beschleuniger, eingereicht wurde, will beweisen, dass Sie als CEO von Coinbase so weit gehen könnten, Ihr Vermögen zu verwenden, um das Projekt zu stehlen.

The reason for the controversy is Knowledgr, a blockchain platform focused on disseminating scientific work that should use tradable tokens as a form of incentive.

Knowledgr: A great idea from a desperate inventor

Knowledgr was developed by Patrick Joyce with technical and financial support from MouseBelt. The Accelerator had started communicating with Joyce in 2018, but the two signed all documents to work together in May 2019.

Relationships ran smoothly in the beginning. Joyce met the goals set and MouseBelt met its contractual obligations.

However, the lawsuit implies that everything changed when Brian Armstrong, CEO of Coinbase, showed up.

According to the lawsuit, Armstrong was secretly working on a similar project: ResearchHub, and given how far Knowledgr’s development was, Mousbelt claims that Coinbase’s CEO took the easy route and instead of acquiring the company as a normal business move , he decided to take on the resources of Knowledgr to move his project forward and save time and I + D costs:

“It was the intent of Armstrong and the other defendants to steal the work of MouseBelt for themselves, not only to eliminate a potential competitor, but to take advantage of the financial, creative, and technical resources MouseBelt in Knowledgr has invested, which enables ResearchHub to be started. “Previously a successful platform at lower costs, which is based entirely or essentially on the work of MouseBelt.”

Coinbase and Brian Armstrong are playing the power game

While Knowledgr was at an advanced stage and Armstrong’s project was just an idea taking shape, one thing is certain: ResearchHub is on the air today, Knowledgr is not, and according to MouseBelt’s lawsuit, Armstrong bears great responsibility for that.

When Armstrong published his article, “Ideas for Improving Scientific Research,” he encouraged anyone who wanted to exchange ideas to contact him, and Patrick Joyce was one of those who wrote to him.

From then on, after a series of emails and pressure from Armstrong, Joyce began sharing more and more information about Knowledgr, to the point where he was working on both projects in parallel.

After all, Joyce spent more time on Armstrong’s project than his own, which ultimately resulted in some kind of sabotage on her own initiative, claims MouseBelt in the lawsuit.

MouseBelt says in its lawsuit that Patrick Joyce delayed the implementation of its goals, hid the actual status of his relationship with Armstrong, took Knowledger’s website offline, released critical and closed information as open source, and refused to release the Knowledgr testnet. In the end, Joyce partnered with ResearchHub, and MouseBelt sued Armstrong and its companies involved in launching ResearchHub for fraud, willful interference with contractual relationships, willful interference with potential economic gain, negligent interference with potential economic gain, unfair enrichment, and quantum earnings.

So far, everyone involved has been silent.


Source: Crypto News Deutsch

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button