YouTuber and crypto journalist Stephen Findeisen, higher referred to as Coffeezilla, has addressed the lawsuit filed in opposition to him by social media influencer Logan Paul, calling it “groundless, meritless, and frivolous.”
Paul filed a defamation lawsuit in opposition to Coffeezilla on June 27, alleging that his movies about Paul’s non-fungible token (NFT) challenge, CryptoZoo, included false accusations of fraud.
In a video launched on August 5, Coffeezilla clarified that the movies in query usually are not associated to his preliminary investigation into CryptoZoo. As a substitute, the swimsuit targets later movies and an X publish the place he advocated for person refunds.
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Earlier this 12 months, on January 4, Paul introduced a “purchase again” program funded with $2.3 million of his personal cash, promising to repurchase CryptoZoo NFTs at their authentic value. Nevertheless, buyers who wished to take part on this program needed to comply with waive any present or future authorized claims in opposition to Paul and related personnel.
Coffeezilla criticized this strategy, arguing it solely partially addresses investor losses. He defined:
There are two components of CryptoZoo: the NFTs and the Zoo tokens. Logan selected solely to refund the NFTs, which is a minority of the losses <…>. It’s disappointing for somebody as wealthy as Logan to not make issues totally proper and as a substitute solely pay again a small a part of the losses whereas combating the remainder of the victims in court docket.
For Paul’s claims to carry up in court docket, he should exhibit monetary loss or reputational harm instantly attributable to Coffeezilla’s statements. But, Coffeezilla identified that Paul had already been accused of pump-and-dump schemes earlier than his movies have been launched.
Coffeezilla additionally highlighted that the timing of the lawsuit suggests its true goal is to silence him. Simply 21 hours earlier than he was sued, Coffeezilla texted Paul with questions on one other crypto challenge he co-founded, Liquid Market, which the Ontario Securities Fee (OSC) has just lately accused of being a “multi-layered fraud.”
In his video, Coffeezilla concluded:
This defamation lawsuit feels frivolous even on the floor. However in case you dig deeper, there’s an much more compelling story which I personally imagine, the place the purpose is to crush new investigations whereas taking revenge on previous ones.
Thus, it appears as if Logan Paul’s lawsuit in opposition to Coffeezilla is not only about defamation however a strategic transfer to suppress future investigations.
Paul informed his facet of the story concerning CryptoZoo in a YouTube documentary launched on March 28, the place he mentioned that the challenge failed as a result of his inexperience reasonably than malicious intent.
Gode is a Web3 Market Analyst who researches an important business occasions and interprets how they have an effect on the broader Web3 house. Her formal training in media tradition & digital rhetoric permits her to make use of a methodical strategy to evaluating important Web3 information knowledge, together with large-scale occasions and the broader social sentiment inside the ecosystem.Gode is a mutilingual skilled, having studied in a number of universities all throughout Europe. This permits her to have a one-of-a-kind alternative to investigate Web3 social sentiments spanning totally different cultures and languages and, in flip, develop a a lot deeper understanding of how the Web3 house is rising inside totally different communities. With the remainder of her staff, Gode works to determine essential crypto information patterns and supply unbiased and data-driven info.Gode’s passions embrace working and speaking with individuals, and when she’s not researching Web3 information, she spends her time touring and watching true crime documentaries.
