ZachXBT’s Defamation Lawsuit Dismissed, Fundraising Campaign Raises Over $1 Million
A defamation lawsuit filed against well-known crypto sleuth ZachXBT has been dismissed. ZachXBT had initiated a fundraising campaign, which raised over $1 million in anticipation of a potential legal battle.
Main Breakdowns:
- Jeffrey Huang filed the lawsuit in retaliation to ZachXBT’s investigative article accusing Huang of embezzling funds from ten different crypto projects.
- The lawsuit claimed that ZachXBT’s article damaged Huang’s reputation.
- ZachXBT expressed disappointment on Twitter and set up a donation wallet for legal fees, receiving donations exceeding $1 million within 48 hours.
- Both ZachXBT and Huang announced the withdrawal of the lawsuit, indicating a resolution in an amicable manner.
- ZachXBT updated the article with additional context from Huang and mentioned the process of returning unused funds.
Closing Thoughts
In the end, the defamation lawsuit against ZachXBT was dismissed, and a significant amount was raised through the fundraising campaign. The resolution of the matter in an amicable manner showcases the importance of open dialogue and transparency within the crypto community. Both ZachXBT and Huang acknowledged each other’s contributions, emphasizing the need for collaboration rather than legal disputes in the industry.
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