Co-Founders Fight over $77M in Rebase Lawsuit

Krzysztof Gagacki, co-founder of non-fungible token (NFT) platform Rebase, has filed a $77m lawsuit against partner Edmond Truong, who he accuses of stealing $2m from a joint wallet without permission. Gagacki’s lawyers claim Truong also interfered with business deals and damaged Gagacki’s reputation. Evidence of Truong’s alleged misconduct has been cited from WhatsApp. The case is urgent, Gagacki’s lawyers say, because Rebase has announced the launch of its token on the Arbitrum platform. The launch would multiply the project’s value, Gagacki’s lawyers argue. Rebase achieved a $150m valuation in April. The lawsuit also claims Truong contacted Rebase investors and falsely claimed to be the sole founder of the company.