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SOME THOUGHTS ON THE LIDO DECISION On Monday, a court in the Northern District of California denied a motion to dismiss a lawsuit against LidoDAO. https://t.co/XbpejU16lM A lot of smart people have already said a lot of stupid things about the decision, so it's my turn. 1/21
🎙️ Rise 'n' Crypto: Are DAOs in Trouble? DAO members could be liable for each other's actions under state law, even just for posting in a forum. 🔥 Don’t miss our breakdown of this game-changing ruling with insights from A16Z's @milesjennings. https://t.co/q0NYBevUPq
California Court Rules Against Lido DAO Lido DAO, the giant behind Ethereum liquid staking, is now legally a “general partnership" in California. That means its members - yes, even forum posters - could face liability for the DAO’s actions. The case came from Andrew Samuels… https://t.co/j5iINnqHYj
A federal judge in California has ruled on November 19 that members of the Lido DAO can be held liable under general partnership laws, setting a significant precedent for decentralized autonomous organizations (DAOs). The ruling means that even passive participants, such as those posting in forums, could face legal liability for the actions of the DAO. This decision came in the case of Andrew Samuels v. Lido, where Judge William Orrick determined that Lido DAO cannot be considered a non-legal entity. Prominent venture capital firms like Paradigm Operations and Andreessen Horowitz, which participate in Lido DAO governance, are also implicated.
