Lawyer to File Crypto Class-Action Seeking Billions From Social Media ‘Cartel’

Andrew Hamilton, the CEO of legal firm JPB Liberty, is ready to file a class-action lawsuit seeking billion in damages from the social media “cartel” that sought to kill crypto in 2018.

he suit, which has already amassed more than $600 million in claims, accuses the firms of acting as a cartel in launching a coordinated attack designed to crush competition emerging from the nascent virtual currency sector in 2018 — when the social platforms enacted sweeping bans against the promotion of crypto assets and initial coin offerings.

After two-and-a-half years of preparation, Hamilton told Cointelegraph that he is ready to file proceedings within the 48 hours, highlighting that signups from claimants are set to close on Aug. 21.

Hamilton believes that the total value of claims against the firms could grow to as much as $300 billion.

Hamilton is the CEO of JPB Liberty — the legal firm that plans to bring the no-win-no-fee suit to court in Hamilton’s home country of Australia.

Speaking to Cointelegraph, Hamilton recounted immediately recognizing the crypto ad ban as anti-competitive when it was enacted, drawing from his background in competition law.

After conducting extensive research into Australian competition law, Hamilton determined that the social media giants were acting as a cartel and it would be “pretty easy to prove it.”

https://cointelegraph.com/news/lawyer-to-file-crypto-class-action-seeking-billions-from-social-media-cartel