D.C. Superior Court judge Juliet McKenna, during judge Jennifer DiToro's Investiture Ceremony at DC Superior Court. October 14, 2011. Photo by Diego M. Radzinschi/THE NATIONAL LAW JOURNAL. Prominent Conservative Bitcoin Advocate Sues Crypto Startup
"I just want my money back," said Derek Khanna, who holds several roles and side hustles, including head of policy and general counsel for the Bitcoin Advocacy Project.
November 07, 2024 at 03:12 PM
3 minute read
Cryptocurrency
What You Need to Know
- Conservative political commentator and Bitcoin advocate Derek Khanna is suing crypto startup Menlo for alleged fraud and Securities Act violations.
- Khanna is seeking at least $1.25 million over the loss of his $250,000 investment in the startup.
- After Menlo launched an initial coin offering with at least $3 million in funding, the token's value plummeted by 95%, sparking allegations of a "pump-and-dump" scheme on crypto forums.
A prominent conservative political commentator and general counsel in the digital asset space filed a complaint in a Washington, D.C., court against a crypto startup whose executives, he alleged in an interview, "pocketed large sums of money" and then "fell off the face of the earth."
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