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USD1 
ESPORTS 
WLFI 
FF Two companies related to DWG Labs have sued BitGo to the High Court in London, accusing it of prematurely selling locked coins and causing their value to plummet.
The Financial Times reported on Friday that two companies associated with crypto market maker DWG Labs have filed a lawsuit against custodian BitGo. The US$141 million dispute is currently being heard in the High Court in London. The plaintiffs, Mingwei Maas and Falcon Digital, accused BitGo of violating the terms of an over-the-counter private transaction involving Falcon Finance (FF) and ESPORTS tokens.
Core controversy in the lawsuit: Early unlocking and market shock
It was reported that BitGo had received these tokens at a discount on condition that it promised not to trade until the end of the lock-up period and vesting period. However, the company transferred the tokens to the exchange about two months before the first unlock date. DWG believes that selling in a thinly liquid market has caused huge downward pressure, thereby eroding the value of the tokens it still holds.
Both parties said they raised the issue with BitGo in April and May, but ultimately chose to sue after the company provided no guarantees. BitGo reportedly declined to comment and the allegations have not yet been tested in court.
The confrontation between two institutional giants
This conflict has pushed the two industry giants into opposing positions. BitGo is one of the largest custodians in the crypto space, with approximately US$5 billion in assets under custody. The company listed on the New York Stock Exchange this year with a valuation of approximately $2 billion and recently acquired NYDIG's institutional trading arm.
总部位于迪拜的DWF Labs是代币经济领域活跃的市场做市商和投资者。值得注意的是，这两家对簿公堂的公司之间存在一条共同的线索：它们都与World Liberty Financial有关联，这是一个获得特朗普家族支持的加密货币项目。去年，DWF购买了价值2500万美元的World Liberty的WLFI代币；而BitGo则负责托管该项目USD1稳定币背后的储备金。目前，World Liberty正通过其新批准的信托银行逐步接管这一角色。
