Polymarket, which is worth an estimated $15 billion, moved to its Panama base following scrutiny from American regulators. If Polymarket users have a legal dispute, the company's terms of service states it will be resolved in a closed-door arbitration process in Panama.
World Liberty Financial alleges that Sun engaged in prohibited token transfers, straw purchases through third parties, and short selling of the company's WLFI token. The complaint further asserts that Sun was fully aware of the protocol's right to freeze user tokens to protect the community and adhere to governing agreements.
World Liberty Financial filed a countersuit for defamation against Justin Sun, claiming he engaged in a 'scorched-earth pressure campaign' after they froze his tokens worth $240 million.
Richardson described the reversal as a rule change at 'the 11th hour' that left a room of supporters stunned and forced the company back into private status despite having, in his telling, followed the playbook.
Porvenir, one of the largest pension fund managers in Colombia, launched a new crypto-linked investment portfolio option called Crypto Porvenir, allowing Colombian pensioners to achieve crypto exposure starting at 100,000 Colombian pesos through a safe, regulated product.