国产av日韩一区二区三区精品,成人性爱视频在线观看,国产,欧美,日韩,一区,www.成色av久久成人,2222eeee成人天堂

Home web3.0 Court Rules Lido DAO Members Liable Under Partnership Laws

Court Rules Lido DAO Members Liable Under Partnership Laws

Nov 20, 2024 am 01:36 AM
Lido DAO Liability California Court

The case focuses on the decentralized governing body behind the popular liquid staking protocol (LSP). Nevertheless, this precedent marks a landmark decision with significant implications for decentralized governance.

Court Rules Lido DAO Members Liable Under Partnership Laws

A federal court in California has ruled that members of the Lido DAO can be held liable under state partnership laws. The case, brought by a purchaser of Lido's native LDO tokens, centered on the decentralized governing body behind the popular liquid staking protocol (LSP). While the ruling pertains to Lido DAO, its precedent has broader implications for decentralized governance.

Andrew Samuels filed a class-action suit in December, alleging that Lido's LDO tokens were sold as unregistered securities. He claimed to have purchased the tokens on the secondary market in April and May 2023 through the Gemini exchange. His lawsuit aimed to hold the DAO liable for his financial losses due to the declining value of the tokens.

In his complaint, Samuels argued that the DAO actively solicited token purchases on exchanges, which violated securities laws. The court agreed with this argument, stating that the DAO's structure and activities subjected it to general partnership liability.

"The statutory phrase 'offers or sells' has been construed broadly to include solicitation of securities purchases. Samuels has sufficiently alleged that Lido DAO solicited these purchases, making it liable," the court noted.

The ruling, issued on Monday by Judge Vince Chhabria of the US Northern District Court of California, rejected Lido DAO's claim that it operates as a non-legal entity immune to traditional legal frameworks. Instead, the court classified the DAO as a general partnership, rendering its participants liable for its operations and debts.

The court identified specific participants, including prominent venture capital (VC) firms Paradigm Operations, Andreessen Horowitz (a16z), and Dragonfly Digital Management. According to the ruling, these VCs qualify as general partners due to their active involvement in Lido DAO's governance and operations. However, another investor, Robot Ventures, was dismissed from the lawsuit due to insufficient evidence of direct participation.

The court's decision marks a significant moment in the legal treatment of decentralized autonomous organizations (DAOs). DAOs are designed to operate without centralized control, but the court found that Lido DAO's structure — where token holders collectively govern decisions and earn staking rewards — met California's definition of a general partnership.

"[This case] raises critical questions about the ability of individuals in the crypto ecosystem to shield themselves from liability through novel legal arrangements tied to decentralized financial instruments," Judge Chhabria wrote in his ruling.

This decision suggests that mere association with a DAO may not be enough to establish liability; instead, active involvement in governance or operations is required.

The ruling has sparked concern in the crypto and blockchain community. Miles Jennings, General Counsel and Head of Decentralization at a16z crypto, described the decision as a severe setback for decentralized governance.

"Under the ruling, any DAO participation (even posting in a forum) could be sufficient to hold DAO members liable for the actions of other members under general partnership laws," Jennings wrote in a statement on X (formerly Twitter).

The decision highlights the risks for participants in DAOs, especially those involved in governance or decision-making processes. By rejecting the argument that a DAO's decentralized structure shields its participants from liability, the court has set a precedent that could impact other DAOs and their contributors.

The ruling emphasized that a general partnership can exist even without the explicit intent to form one. It is established if two or more individuals associate to co-own and operate a business for profit.

This case has far-reaching implications for the crypto industry, particularly for decentralized projects that rely on token-based governance models. Moving forward, DAOs may need to reconsider their structures and establish legal entities to protect participants from similar liability risks.

"Every DAO will require a legal wrapper, a careful choice of jurisdiction, and compliance with laws of security (token) issuance unless the law changes," Chief Apostle of RWA commented.

The decision signals a challenging road ahead for Lido DAO and its participants as they navigate the legal and regulatory landscape. Meanwhile, other DAOs and decentralized projects may face increased scrutiny as courts and regulators examine their operations under traditional legal frameworks.

Lido DAO's LDO token is down nearly 2% on this news. At the time of writing, it is trading at $1.18.

The above is the detailed content of Court Rules Lido DAO Members Liable Under Partnership Laws. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot AI Tools

Undress AI Tool

Undress AI Tool

Undress images for free

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Ouyi download tutorial Ouyi latest version download tutorial (full version) Ouyi download tutorial Ouyi latest version download tutorial (full version) Jun 18, 2025 pm 07:39 PM

As the world's leading cryptocurrency exchange, OKX provides a safe and reliable trading environment and a rich variety of digital assets. 1. Visit the official website www.okx.com to download the application; 2. Select the Android or iOS version according to the device; 3. Install the application and complete registration or login; 4. Enable two-factor verification to ensure account security. The platform supports spot trading, leveraged trading, contract trading, DeFi, OKX Earn financial management and NFT market.

Official correct address of Ouyi Exchange APP Official correct address of Ouyi Exchange APP Jun 17, 2025 pm 01:24 PM

To obtain the official correct address of the Ouyi Exchange APP, you need to go through the following three official channels: 1. Download the official website, visit the official domain name [adid]fe9fc289c3ff0af142b6d3bead98a923[/adid] and download the corresponding system version; 2. Follow the official social media account to obtain the latest download information; 3. Contact the official customer service to confirm. At the same time, users should be alert to phishing websites, check domain names, install antivirus software, enable secondary verification and avoid leakage of personal information to ensure account security.

2025's latest top ten virtual digital currency trading platform software recommendations 2025's latest top ten virtual digital currency trading platform software recommendations Jun 19, 2025 pm 12:00 PM

Choosing a reliable cryptocurrency trading platform is crucial to ensure transactions are secure, reduce costs and enhance the experience. The top ten exchanges in 2025 include: 1. OKX, with powerful technology and a variety of trading methods; 2. Binance, large trading volume and perfect ecology; 3. Huobi, focusing on compliance and user expansion; 4. Coinbase, suitable for novices; 5. Kraken, high security and low fees; 6. Bitfinex, aimed at professional users; 7. Bybit, focusing on derivatives; 8. KuCoin, rich currency; 9. Gemini, strict supervision; 10. Gate.io, providing innovative products. When choosing, you should pay attention to security, transaction volume, handling fees, currency, user experience, customer service and compliance.

gate.io official website latest address gate.io web version latest login portal gate.io official website latest address gate.io web version latest login portal Jun 24, 2025 pm 07:00 PM

Gate.io is a safe and reliable digital asset trading platform, and users should access it through their official address to avoid security risks. To ensure the security of your account, please use a secure network environment, enable two-factor verification, change your password regularly, beware of phishing websites and fraudulent information, and check the official email address. Gate.io provides a wide range of transaction types, contract trading, financial management and lending, Startup's first release platform, independently developed GateChain public chain, multiple security guarantees, 7x24-hour customer service support, and a fully functional mobile app. To start using Gate.io, you can access its official website to register an account, complete real-name authentication, top up and start trading.

The latest ranking of secure digital currency app software. Take stock of the secure virtual currency trading app in 2025 The latest ranking of secure digital currency app software. Take stock of the secure virtual currency trading app in 2025 Jun 19, 2025 am 11:54 AM

Cryptocurrency traders should choose a safe and reliable and versatile trading platform to ensure asset security and trading efficiency. 1. OKX: a global leading platform, providing a variety of trading methods such as spot and contracts, and supporting convenient registration and identity verification processes; 2. Binance: is known for its low fees and rich currency, suitable for global users; 3. Huobi: has a long history, high security, and diverse products; 4. Coinbase: has a friendly interface and strong compliance, suitable for beginners; 5. Kraken: is known for its professionalism and transparency; 6. KuCoin: has a rich currency and provides a variety of reward plans; 7. Bitfinex: is aimed at professional users, providing leveraged trading; 8. Gate.io: Innovative products and

Which virtual digital currency trading platform is better? Recommended by the top ten digital currency app exchanges Which virtual digital currency trading platform is better? Recommended by the top ten digital currency app exchanges Jun 19, 2025 pm 12:12 PM

Choosing the right virtual digital currency trading platform is crucial. The top ten mainstream platforms recommended include OKX, Binance, Huobi, Coinbase, Kraken, Bitfinex, Gate.io, KuCoin, Bybit and MEXC. 1. OKX provides a wide range of trading products and financial products; 2. Binance is known for its low fees and strong trading engine; 3. Huobi supports a variety of trading services such as spot and contracts; 4. Coinbase is suitable for beginners; 5. Kraken is highly secure; 6. Bitfinex has good trading depth; 7. Gate.io has a friendly user interface; 8. KuCoin supports a variety of small currencies;

Recommended Top Ten Cryptocurrency Trading Platforms in 2025 Summary of the Top Ten Cryptocurrency Exchange List Recommended Top Ten Cryptocurrency Trading Platforms in 2025 Summary of the Top Ten Cryptocurrency Exchange List Jun 19, 2025 pm 12:15 PM

The top ten exchanges in 2025 include: 1. OKX, leading with technical strength and diverse trading methods; 2. Binance, famous for its rich currency and large trading volume; 3. Huobi, focusing on compliance and expanding the ecosystem; 4. Coinbase, a user-friendly platform suitable for beginners; 5. Kraken, recognized for security and low fees; 6. Bitfinex, an advanced tool for professional traders; 7. Bybit, focusing on derivatives and high leverage trading; 8. KuCoin, providing a wide range of currency options; 9. Gemini, emphasizing regulatory compliance and institutional services; 10. Gate.io, covering multiple transactions

Top 10 digital virtual currency trading platforms What are the easy currency trading apps? Top 10 digital virtual currency trading platforms What are the easy currency trading apps? Jun 19, 2025 pm 12:03 PM

When choosing a reliable cryptocurrency trading platform, you must give priority to security, fees, currency and functions. The top ten reliable platforms in 2025 include OKX, Binance, Huobi, Coinbase, Kraken, KuCoin, Bitfinex, Gemini, Bitstamp and Crypto.com. They each have their own characteristics. For example, OKX provides a variety of transaction methods and focuses on security; Binance is known for its low handling fees; Coinbase is suitable for beginners; Kraken and Gemini emphasize compliance and security, etc. When choosing, you should consider the following five points: 1. Security: Check whether you have dual-factor certification, cold storage and other measures; 2. Transaction fees: Compare the rates of different platforms and