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sui

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first_img The death of Ondo Finance's founder has sparked a power struggle, with his mother suing the current CEO

According to CoinDesk, the tokenized asset company Ondo Finance is embroiled in a corporate control dispute following the death of founder Nathan Allman this year. The estate has filed a lawsuit in the Delaware Chancery Court, accusing former president and current CEO Ian De Bode of improperly attempting to seize control of the company while the estate certification process is not yet complete and the company's voting rights are temporarily suspended. The three legal documents request the judge to determine who legally controls Ondo Finance and to prohibit the company from taking significant actions until the governance dispute is resolved.According to the complaint, Nathan Allman was the CEO, sole director, and controlling shareholder of Ondo at the time of his death, and his voting rights could not be exercised until his mother, Kathleen Allman, was formally appointed as the estate representative through the Hawaiian probate process on June 26. The estate alleges that De Bode claimed to automatically become CEO and appointed himself as the sole director before this, taking actions such as hiring consultants and approving performance grants.After obtaining the voting rights, Kathleen Allman voted to remove De Bode from all positions and appointed herself as chairwoman and interim CEO during the board meeting on July 24. De Bode responded that he regretted the lawsuit filed by Allman, stating that her claims lack basis, and that the company still has the support of major investors and key stakeholders such as the Ondo Foundation. The court has not yet ruled on the related allegations, and the aforementioned documents only reflect the statements of the estate.

first_img RedotPay responds to Binance's $473 million lawsuit: will actively defend and deny the relevant accusations

According to CoinDesk, RedotPay responded to the lawsuit filed by Binance, stating that it will actively defend itself. The company stated in a statement that it is aware of the legal proceedings initiated by Binance and will mount a strong defense against all allegations, denying the related accusations against the company and its co-founders, claiming that these allegations are baseless.Previously, Bloomberg reported that a Binance-affiliated entity filed a lawsuit in Hong Kong against RedotPay's co-founder, accusing him of breaching the agreement by directing over 470,000 Binance users to the RedotPay platform, resulting in approximately $473 million in losses. Binance stated in the lawsuit that it discovered in March 2026 that RedotPay allowed and encouraged the use of Binance Pay funds for unauthorized purposes without isolation, including recharging the RedotPay card. Binance's Chaintecs also filed a lawsuit against RedotPay affiliates in Singapore, with a related hearing scheduled for this Friday.Public information shows that Binance and RedotPay first reached a commercial cooperation in November 2023, which was terminated less than six months later due to Binance's claim that its funds were used for recharging RedotPay prepaid cards. The two parties reached a second agreement in March 2025, requiring Binance funds to remain isolated, allowing Binance users to exchange cryptocurrencies for fiat currency on RedotPay, conduct in-app transfers, and purchase RedotPay branded merchandise, but not to recharge the RedotPay card. Binance terminated the agreement in April 2026, stating it was part of a merchant partner review. RedotPay had previously planned to go public in the U.S. with an estimated valuation of about $4 billion, intending to raise over $1 billion.

hot_img OpenAI publicly responds to Apple's lawsuit: describes it as "careless, aggressive, and personal," stating that Apple mistakenly sent a lawyer's letter and confused the recipient

OpenAI issued a public statement on August 3 in response to the lawsuit filed by Apple. OpenAI described Apple's lawsuit as "careless, aggressive, and personal," and pointed out several factual inaccuracies: an external lawyer from Apple mistakenly sent an email intended for someone else to OpenAI's legal head, falsely claiming that the two parties had spoken over the phone; Apple later admitted it was due to "confusing two Asian surnames." OpenAI also revealed that after contacting Apple in February, Apple stated it was "working to resolve any issues," but then did not communicate for 5 months until filing the lawsuit.Regarding the allegations against former Apple employee Chang Liu for taking confidential information, OpenAI presented iMessage records from after his departure showing that Apple colleagues had proactively contacted him to request assistance in locating documents, and acknowledged that this was a common issue caused by Apple's "poor management of exit access." Another named executive, Tang Tan, had worked at Apple for over 24 years, and OpenAI stated that he had consistently required his team "not to use any confidential information from other companies." OpenAI indicated that it had proactively offered to cooperate in resolving the matter, but Apple chose to file a lawsuit, claiming that its request for a preliminary injunction was "based on false information and completely unnecessary." Previously, Apple sued OpenAI in July, accusing it of poaching Apple employees and using confidential information to develop AI products.
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