Joseph Delich, left, and Devin "Velvel" Freedman ,right, of Freedman Normand Friedland. (Courtesy photos) Miami Litigators Revive 9-Figure Lawsuit Against NASCAR Over 'Let's Go Brandon' Coin
"There's a tendency to treat crypto and meme coins as a joke where they don't need to be taken seriously," said Joe Delich, a partner at Freedman Normand. "But they're a real product."
June 05, 2024 at 12:46 PM
4 minute read
Cryptocurrency
The original version of this story was published on Daily Business Review
What You Need to Know
- Miami attorneys revived a lawsuit against NASCAR related to a meme coin born from a coded vulgar insult.
- The plaintiff claimed in the lawsuit that NASCAR weaponized the concept of a rug-pull, similar to a pump-and-dump scheme.
- The plaintiff claimed NASCAR caused the coin's value to initially suffer an over $382 million loss.
Miami attorneys revived a nine-figure lawsuit against NASCAR over allegations it approved a sponsorship with driver Brandon Brown and the "Let's Go Brandon" meme coin, only to later weaponize a "rug pull" by claiming to the press that it never approved the deal, leading to the plummeting price of the cryptocurrency.
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