There’s no doubt about it, the Joseph Lubin Consensys lawsuit and its aftermath are continuing to haunt the bitcoin world. We’re now at the end of a year that saw two distinctly different types of events happen and one which is likely to dominate the media this year – as the lawsuit between ConsenSys and Joseph Lubin continue to drag on.
The Joseph Lubin lawsuit is an unfortunate feature of the bitcoin industry where in the past few years several people have been involved in multiple problems with the non-profit. Unfortunately for many of these problems weren’t exactly smart financial decisions and are now causing investors large and small to lose their money.
However the Joseph Lubin lawsuit is now starting to show some signs of success. Joseph Lubin and ConsenSys have reached a $25 million settlement and the lawsuits will soon be resolved. This settlement should allow investors to move on and keep their investments and you can bet the well-known plaintiff’s lawyers are licking their lips over this news.
But there is another side to this story and that is what happened after the suit. As things stand, a lot of people who may have been hurt by the negative media surrounding the case are now suing the bitcoin industry in order to make a name for themselves. And now a huge portion of the industry and its customers are being held accountable for Lubin’s actions.
In the wake of this recent development, investors who are dealing with Lubin are afraid and unsure if they can continue to work with the company or not. After all, the Joseph Lubin lawsuit and associated media storm means a lot of people and companies may be indirectly affected by these events and it’s hard to know how much of a risk you take with the people or companies you already have working with you.
Now while you may not be harmed by this fraud of a suit, this scam accusation will probably cause a ripple effect within the bitcoin industry. It will scare away a lot of legitimate businesses and it will probably cause people to avoid investing money in bitcoin, simply because of the all the problems associated with the lawsuit. Of course there’s going to be a backlash from the scam accusation but that’s the price we pay for making it big in a new industry.
Another possible threat to the Consensys company is if it doesn’t reach a settlement with Joseph Lubin. As the lawsuit drags on and Lubin continues to do things like “insider trading” and start having meetings with investors and potential employees, the tension within the company will begin to build and you may find the company runs into problems with Lubin.
Unfortunately neither of these threats will be enough to stop Consensys, but it’s a very real possibility. You can get in touch with a reputable bitcoin attorney to help you figure out how you should proceed when your career and wallet are at stake. Of course you can also ask your lawyer if they feel the potential risks are worth the potential rewards.