YouTuber and crypto journalist Stephen Findeisen, higher often called Coffeezilla, has addressed the lawsuit filed towards him by social media influencer Logan Paul, calling it “groundless, meritless, and frivolous.”
Paul filed a defamation lawsuit towards Coffeezilla on June 27, alleging that his movies about Paul’s non-fungible token (NFT) venture, CryptoZoo, included false accusations of fraud.
In a video launched on August 5, Coffeezilla clarified that the movies in query are usually 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 consumer refunds.
Do you know?
Need to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer movies each week!
Earlier this yr, 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 unique worth. Nevertheless, traders who needed to take part on this program needed to conform to waive any present or future authorized claims towards 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 absolutely proper and as an alternative 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 injury instantly brought on by Coffeezilla’s statements. But, Coffeezilla identified that Paul had already been accused of pump-and-dump schemes earlier than his movies had been launched.
Coffeezilla additionally highlighted that the timing of the lawsuit suggests its true purpose is to silence him. Simply 21 hours earlier than he was sued, Coffeezilla texted Paul with questions on one other crypto venture 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 towards Coffeezilla isn’t just about defamation however a strategic transfer to suppress future investigations.
Paul advised his facet of the story relating to CryptoZoo in a YouTube documentary launched on March 28, the place he stated that the venture failed as a result of his inexperience quite 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 schooling in media tradition & digital rhetoric permits her to make use of a methodical strategy to evaluating vital Web3 information information, together with large-scale occasions and the broader social sentiment throughout the ecosystem.Gode is a mutilingual skilled, having studied in a number of universities all throughout Europe. This enables her to have a one-of-a-kind alternative to research 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 establish 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.
