Posted 9 months ago | by Catoshi Nakamoto

On Friday, Liti Capital a Litigation Finance company, joined us in the Bitsquad to answer questions about their recent campaign to sue Binance in a class-action lawsuit. Liti Capital has opened up a website for all those affected who have suffered financial loss through Binance between October 2020 to the current day. This author interviewed Liti Capital’s (Chief Investment Officier) CIO, David Kay, who expressed that Liti Capital would provide its services free of charge to claimants in the Binance lawsuit. Kay added, that Liti Capital, was taking all the risks and has set aside $5 million dollars to represent all of those that come forward.

liticapbinacne Bitsquad AMAs: Liti Capital On Its Campaign To Sue Binance

 

You can read the full AMA with David Kay below!

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:02]
Alright, everyone we are beginning our AMA with @dvkay1979 CIO from Liti Capital. This is one of the most exciting stories we have been privileged to cover. Liti Capital is bringing accountability to Binance with its HODL Binance Accountable campaign. So why don’t you introduce yourself David, give a little bit of your own personal background and tell everyone what Litigation Finance is for those unaware?

David Kay, [20.08.21 14:03]
First of all – thanks so much for having me.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:03]
[In reply to David Kay]
[ 😘 Sticker ]

David Kay, [20.08.21 14:03]
My background is in finance. I was one of the founding partners and the portfolio manager (a fancy way of the saying “in charge”) of a $1b+ private equity firm in NYC focusing on…..

David Kay, [20.08.21 14:04]
wait for it…..

David Kay, [20.08.21 14:04]
Litigation financing

David Kay, [20.08.21 14:04]
(try to hold back your shock)

David Kay, [20.08.21 14:04]
I decided to semi-retire during covid

David Kay, [20.08.21 14:05]
And starting sitting on boards of directors, until my buddy (And partner) Jonas Rey called

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:05]
[In reply to David Kay]
No problem I personally heard about the project from Randall a friend of mine who everyone may know as Crypto Love. I first saw Coach K’s story about getting robbed, and plea for help. I was originally going to reach out and offer to try to help, then you guys swooped in what seemed out of nowhere and offered your services to help him. Then we started chatting, and you said you want to help clean up the space from scammers. You had me at “clean up scammers.”

David Kay, [20.08.21 14:05]
More complicated than “hello” – but i’ll take it

David Kay, [20.08.21 14:05]
😉

David Kay, [20.08.21 14:06]
That’s actually the thing that got me to do this in the first place.

David Kay, [20.08.21 14:06]
We are a “for profit” company – but we are community first

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:06]
That wouldn’t be a typical Chat With The Cat though. 😉

David Kay, [20.08.21 14:07]
And we decided that we would take 5-10% of every dollar raised (not profit) and use that to help people that have been scammed and couldn’t afford and/or didn’t know how to fight back

David Kay, [20.08.21 14:07]
We make no profit on that piece – that’s for the community.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:07]
[In reply to David Kay]
Oh keep going, we have a while. I am interested in your own personal background and who is actually behind Liti Finance the team matters almost as much as the tech behind a project.

David Kay, [20.08.21 14:07]
Sure…..

David Kay, [20.08.21 14:08]
I will tell you though – the one thing I’m not allowed to talk about….

David Kay, [20.08.21 14:08]
is how Jonas and I met

David Kay, [20.08.21 14:08]
I swore to him that he would be the one to tell that story – and have been trying to get my entire community to make him do it

David Kay, [20.08.21 14:08]
Maybe you guys can help?

David Kay, [20.08.21 14:08]
Anyhow……

David Kay, [20.08.21 14:09]
But, look, for me this project is about more than making money

David Kay, [20.08.21 14:09]
At my previous firm – my parents weren’t allowed to invest

David Kay, [20.08.21 14:09]
Why you ask?

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:09]
[In reply to David Kay]
Man so sick of these scammers and Coach K’s story hit me hard. Because it could happen to anyone and it highlighted a different type of scam were not all used to seeing.

David Kay, [20.08.21 14:10]
Because they didn’t have $1mm of liquidity – which is what’s required in the United States?

David Kay, [20.08.21 14:10]
Can you believe that?

David Kay, [20.08.21 14:10]
Private equity has generated the best returns in the world for the last decade, but you can only invest if you already have money?

David Kay, [20.08.21 14:10]
That killed me.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:10]
[In reply to David Kay]
You better invite him in here then or Ill keep pressuring you like I pressured other projects to give me a partnership announcement. I won’t let you leave without telling me now.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:10]
[ 😒 Sticker ]

David Kay, [20.08.21 14:10]
But….but…..but……

David Kay, [20.08.21 14:11]
ummm…………

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:11]
[In reply to David Kay]
[ 🤫 Sticker ]

David Kay, [20.08.21 14:11]
OK

David Kay, [20.08.21 14:11]
I’ll give you an important partnership

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:11]
baited

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:11]
[ 🌹 Sticker ]

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:11]
My charm is unavoidable

David Kay, [20.08.21 14:11]
We are currently partnering with every investor in the world that has been harmed as a result of Binance’s actions – whether on May 19th or otherwise.

David Kay, [20.08.21 14:12]
EVERY. INVESTOR. IN. THE. WORLD

David Kay, [20.08.21 14:12]
(yes you)

David Kay, [20.08.21 14:12]
We have committed to funding at least $5mm to pay for all the expenses. And we are taking all the risks…

David Kay, [20.08.21 14:12]
All you have to do is go to binanceclaim.com and sign up. Takes 5mins. MAX

David Kay, [20.08.21 14:13]
And…..I know this isn’t an audio AMA, but if you want to see what I look like:

David Kay, [20.08.21 14:13]

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:14]
[In reply to David Kay]
I have to ask in regards to Binance, regulators and investors are now after the company. Where is it actually incorporated if Cayman Islands authorities recent said that it wasn’t allowed to operate from there?

David Kay, [20.08.21 14:14]
(I’m the awkward one in the black shirt, not the handsome one in the tie)

David Kay, [20.08.21 14:14]
(just in case you were wondering)

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:14]
https://www.cima.ky/binance-not-regulated-by-cima

David Kay, [20.08.21 14:15]
[In reply to The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO)]
Such a great question. That’s one of the interesting things about Binance. They are a company without offices, headquarters, or any real place at all.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:15]
[In reply to David Kay]
Absolutely feel free to share anything you want.

David Kay, [20.08.21 14:15]
That’s part of the problem.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:16]
[In reply to David Kay]
Which is great for decentralization. Not so great for holding accountable. Decentralization is a double edged sword as many have seen who have been rug pulled by projects only on Uniswap and BSC.

David Kay, [20.08.21 14:16]
I think there is a hugely important discussion that we need to have as a community around entities like Binance.

David Kay, [20.08.21 14:16]
I will tell you – personally, I am 100% pro decentralization

David Kay, [20.08.21 14:16]
Period.

David Kay, [20.08.21 14:16]
BUT and this is an important BUT

David Kay, [20.08.21 14:16]
That’s for the communities assets.

David Kay, [20.08.21 14:17]
Binance is NOT a community asset

David Kay, [20.08.21 14:17]
Binance is a corporation USING a community asset to make money off of the community. It’s very different.

David Kay, [20.08.21 14:17]
And, look, I am a huge fan of making money.

David Kay, [20.08.21 14:17]
HUGE

David Kay, [20.08.21 14:18]
Like – really really big

David Kay, [20.08.21 14:18]
But corporations that are using the community assets to make money are NOT community assets themselves.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:18]
Well what have I noticed is that Binance is often the go to exchange for scammers to exit. But it seems with the recent mandatory KYC measure they may be telling them to go elsewhere.

David Kay, [20.08.21 14:18]
There needs to be some accountablity

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:19]
Exactly

David Kay, [20.08.21 14:19]
[In reply to The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO)]
I agree. They definitely want people to go to binanceclaim.com

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:20]
Do you think that your action triggered Binance’s mandatory KYC policy or is it a combination of everything happening with Binance being scrutinized by regulators worldwide?

David Kay, [20.08.21 14:20]
[In reply to The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO)]
I do think that this is more of a sign of what we are talking about now than anything else.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:20]
[In reply to David Kay]
I agree with you too.

David Kay, [20.08.21 14:20]
[In reply to The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO)]
It’s a combination. It’s all happening at the same time. They are just too big now to not have to have some rules.

David Kay, [20.08.21 14:20]
Can I give you an example?

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:21]
BNB is anything but decentralized and I worry about regulators coming after them because its basically like a stock in Binance’s business.

David Kay, [20.08.21 14:21]
That’s a fair concern. but I think about more like the internet

David Kay, [20.08.21 14:21]
I personally believe that the blockchain will be as impactful as the internet

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:21]
[In reply to David Kay]
Absolutely

David Kay, [20.08.21 14:22]
It’s bringing financial freedom and informational security to people around the world in a way that we couldn’t have dreamed of 10 years ago

David Kay, [20.08.21 14:22]
Just like the internet

David Kay, [20.08.21 14:22]
But at some point the internet became so big/important that we all had to take a step back and say “ok, how is this actually going to work?”

David Kay, [20.08.21 14:22]
And you know what?

David Kay, [20.08.21 14:23]
The internet is still largely unregulated

David Kay, [20.08.21 14:23]
And still largely free (and getting more so every day)

David Kay, [20.08.21 14:23]
But there are some basic, common sense, guidelines so that we all feel safe and comfortbale being on it all day every day

David Kay, [20.08.21 14:23]
And we NEED that

David Kay, [20.08.21 14:24]
I mean Cat – it breaks my heart

David Kay, [20.08.21 14:24]
We have an email for people who have been scammed and need our help: scambusters@liticapital.com

David Kay, [20.08.21 14:24]
Where we get 10s of emails every day about people who have been scammed, who have been rug pulled

David Kay, [20.08.21 14:25]
Honestly, who on this entire chat doesn’t know someone or hasn’t had it happen to them?

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:25]
It’s terrible

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:25]
I get the same emails

David Kay, [20.08.21 14:25]
It. Has. To. Stop.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:25]
I can’t even reply to them all.

David Kay, [20.08.21 14:25]
We need some basic rules.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:25]
I agree, the issue is government regulating and the space regulating itself

David Kay, [20.08.21 14:25]
We all remember what Uncle Ben said to Peter Parker “With great power comes great responsibility.”

David Kay, [20.08.21 14:26]
By the way – one way to keep the government out as much as possible is EXACTLY that

David Kay, [20.08.21 14:26]
self regulate.

David Kay, [20.08.21 14:26]
Like going to binanceclaim.com and joining us

David Kay, [20.08.21 14:26]
Can I tell you something crazy?

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:26]
Heres the thing

David Kay, [20.08.21 14:26]
Oh no – you first

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:27]
If we don’t self regulate basic things our space will be over run by politicians that don’t understand it.

David Kay, [20.08.21 14:27]
100%

David Kay, [20.08.21 14:27]
But are we doing it?

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:27]
I am personally apolitical and Ben doesn’t like to get poltiical on the channel. But Ted Cruz said it, only 5 people in congress understand the tech they are regulating.

David Kay, [20.08.21 14:27]
Listen – this Binance thing. It’s free. There is only upside. There is no risk, but do you know what the hardest part of the process is?

David Kay, [20.08.21 14:28]
Getting the message out there!

David Kay, [20.08.21 14:28]
Almost EVERY SINGLE CRYPTO site refused to cover the story bc they were afraid of retribution from Binance

David Kay, [20.08.21 14:28]
Is that who we are?

David Kay, [20.08.21 14:28]
If you google “Liti Capital” or “Binance” you will see – almost every mainstream news outlet covered the story

David Kay, [20.08.21 14:29]
But almost none of our community did

David Kay, [20.08.21 14:29]
And I don’t understand it

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:29]
[In reply to David Kay]
I am through working with you guys to go after scammers. I can’t speak for everyone else. I know Ben is by doing the samething with our scam busters working logging every scammer. That’s all done to protect our community you guys should thank @BitBoyCrypto for what he is doing.

David Kay, [20.08.21 14:29]
You guys are the absolut ebest.

David Kay, [20.08.21 14:29]
I have to tell your people something.

David Kay, [20.08.21 14:29]
And this is important

David Kay, [20.08.21 14:30]
There is no one – NOT ONE PERSON – that we have interacted with who cares as much about stopping scammers fro hurting their people than you

David Kay, [20.08.21 14:30]
I want your entire community to understand that we actually have a running chat set up with you guys to coordinate on fighting back against anyone that targets BitBoy

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:30]
[In reply to David Kay]
Its all the ad revenue.

David Kay, [20.08.21 14:31]
It’s amazing.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:32]
[In reply to David Kay]
Well its literally 10000s of accounts

David Kay, [20.08.21 14:32]
But you guys don’t just talk the talk – you guys have been spending a ton of time with us actually fighting back.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:32]
We all have impersonators, myself, Ben, TJ, even other workers in the office are being impersonated it’s INSANE.

David Kay, [20.08.21 14:32]
Horrible. It’s really horrible.

David Kay, [20.08.21 14:33]
But that’s the point, right?

David Kay, [20.08.21 14:33]
Although I do agree with you…and I also try to stay away from politics….but on that point – Ted and I agree.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:34]
[In reply to David Kay]
If you are going to do something give your 110%. If you are privileged to be apart of the head channel of an industry then do all you can to protect and evolve it. Example Ben went to speak to Texas Senators and Congressmen. You put in effort for something you care about.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:34]
You don’t just sit back and let others make rules for you. If you have a voice and a platform you use it to fight back for whatever cause.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:35]
/end motivational rant

David Kay, [20.08.21 14:35]
Exactly. Right back to Uncle Ben and Spidey.

Look – Liti is NOT a currency. We are an equity token. Every token the community buys raises money that we invest to (i) benefit the community and (ii) make money for our token holders.

David Kay, [20.08.21 14:35]
Every wLiti

David Kay, [20.08.21 14:36]
Its this community that is financing the case against Binance (and anyone else who fvcks with us) and its that same community that will get paid when we win.

David Kay, [20.08.21 14:36]
You know what I forgot to mention…….

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:37]
Go ahead?

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:37]
[ ☕️ Sticker ]

David Kay, [20.08.21 14:37]
Go to binanceclaim.com if you’ve been harmed by binance.

David Kay, [20.08.21 14:37]
😉

David Kay, [20.08.21 14:37]
sorry – couldn’t help it.

David Kay, [20.08.21 14:37]
Now I’m done.

David Kay, [20.08.21 14:37]
(maybe)

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:37]
[ 👨‍💻 Sticker ]

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:38]
So besides Binance and Coach K’s case, do you have any other cases you have worked against scammers in the space or any other companies?

David Kay, [20.08.21 14:38]
Yep. Glad you asked.

David Kay, [20.08.21 14:38]
This one is one of my favorites.

David Kay, [20.08.21 14:39]
Picture this – billionare family hired a first generation immigrant to start a (very) well know spirits company from scratch

David Kay, [20.08.21 14:39]
They give him the option to buy some of the equity (20%)

David Kay, [20.08.21 14:39]
He scrapes together the money to do it ($30k) and becomes the CEO

David Kay, [20.08.21 14:40]
10 years later the brand generated $200mm of cash (during covid)

David Kay, [20.08.21 14:40]
Not revenue.

David Kay, [20.08.21 14:40]
Straight cash

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:40]
[In reply to David Kay]
If you aren’t in the U.S. and you can buy Liti please for the love of god buy the token to put money towards going after scammers. (Oh and no I wasn’t paid to say that, I was paid nothing for this interview. I am doing this AMA for the sole reason that I hate scammers in this space and fight for the little guy.)

David Kay, [20.08.21 14:41]
There is a tiny provision in his contract that allows them to buy back his stock if he acts in a way “contrary to corporate values”

David Kay, [20.08.21 14:41]
He doesn’t do anything.

David Kay, [20.08.21 14:41]
Nothing wrong.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:41]
I see where this is going.

David Kay, [20.08.21 14:41]
The business is a 10X multiple business – so is worth 2b

David Kay, [20.08.21 14:41]
Yes you do.

David Kay, [20.08.21 14:41]
Now what do you do?

David Kay, [20.08.21 14:42]
How does this one guy fight a billionare family?

David Kay, [20.08.21 14:42]
They are willing to spend whatever it takes – they make $200mm dollars if they win

David Kay, [20.08.21 14:42]
Then guess what they do…..

David Kay, [20.08.21 14:42]
They offer him $1mm to go away

David Kay, [20.08.21 14:42]
What do you do?

David Kay, [20.08.21 14:42]
You know what the sad truth is……

David Kay, [20.08.21 14:43]
Most people take the money

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:43]
Of course

David Kay, [20.08.21 14:43]
Most of the time – the “bad guys” win

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:43]
Because you are going up against a powerful family

David Kay, [20.08.21 14:43]
And that’s why they do it….

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:43]
They can use threats of legal or physical violence

David Kay, [20.08.21 14:43]
It’s a free option for them….if they win – $200mm. If you win:

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:43]
All you can do is be in fear.

David Kay, [20.08.21 14:43]
THEY JUST HAVE TO PAY YOU WHAT THEY ALREADY OWE YOU

David Kay, [20.08.21 14:43]
It’s actually genius if it wasn’t so wrong

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:44]
its disgusting

David Kay, [20.08.21 14:44]
But it’s also why Liti makes so much money. Bc it ALWAYS make sense for the big guys to do that kind of thing.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:44]
They already have all this wealth and they are just greedy

David Kay, [20.08.21 14:44]
Now we have come in. And we have fully funded the case.

David Kay, [20.08.21 14:44]
We are paying the millions of dollars. We are taking all the risk.

David Kay, [20.08.21 14:45]
Then they came with $10mm

David Kay, [20.08.21 14:45]
(see how this works?)

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:45]
Yes

David Kay, [20.08.21 14:45]
Want to know what we said?

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:45]
Sure?

David Kay, [20.08.21 14:45]
hard pass.

David Kay, [20.08.21 14:46]
But here’s the thing. If they come with $150mm – we are going to take it

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:46]
Right because that’s only a $50 million off cut of what it was worth.

David Kay, [20.08.21 14:46]
(hear that billionare family’s lawyers who I’m sure are on here somewhere? $150mm)

David Kay, [20.08.21 14:46]
Yeah – but…..and this is where it gets crazy…..

David Kay, [20.08.21 14:47]
THEY STILL MAKE $50mm

David Kay, [20.08.21 14:47]
SMH

David Kay, [20.08.21 14:48]
But….my guy. Who I now consider a friend….doesn’t leave with nothing, or even 5mm or 10mm

David Kay, [20.08.21 14:48]
He is treated (somewhat) fairly for the value he created for these guys.

David Kay, [20.08.21 14:48]
And Liti makes a bunch of money that we distribute to our token holders.

David Kay, [20.08.21 14:48]
Win/win.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:48]
This is a very interesting business model.

David Kay, [20.08.21 14:48]
That’s the power of litigation financing

David Kay, [20.08.21 14:49]
And this is the first time it’s been offered to everyone.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:49]
decentralization of the legal process

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:49]
thats the way I see Liti

David Kay, [20.08.21 14:49]
decentralization of actually being able to invest in private equity too!

David Kay, [20.08.21 14:49]
Everyone, everywhere is welcome.

David Kay, [20.08.21 14:50]
$1 or $10,000,000

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:50]
Well for those of us outside the U.S. For those of us in the U.S. we don’t get that “right.”

David Kay, [20.08.21 14:50]
Anyone, anywhere can buy the wLiti

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:50]
But can’t convert to Liti

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:50]
😉

David Kay, [20.08.21 14:50]
that’s the token that trades on Uniswap and HitBTC

David Kay, [20.08.21 14:51]
Exactly. If you are in the US, and not accredited, you can’t convert to a Liti

David Kay, [20.08.21 14:51]
hugely important point.

David Kay, [20.08.21 14:51]
We are regulation compliant

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:51]
As you are dealing in Litigation Finance you would have to be.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:51]
lol

David Kay, [20.08.21 14:51]
We are one of only 5 companies in the world to have a letter from the financial regulatory body expressly allowing us to list an equity token

David Kay, [20.08.21 14:52]
You can sleep at night invested in liti

David Kay, [20.08.21 14:52]
If regulation does come – we will be fine.

David Kay, [20.08.21 14:52]
We are set up to be completely compliant with US and EU rules…

David Kay, [20.08.21 14:52]
we spend a lot of time on that.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:53]
We are coming up on the hour mark. But I have just one more question for you, besides partnering with all of us investors against Binance claims. Do you have any other partnerships with other projects or companies that you want to highlight?

David Kay, [20.08.21 14:53]
Not yet. But watch this space.

We will have an announcement next week about a further expansion. I just need the ink to dry.

David Kay, [20.08.21 14:54]
Wait….

David Kay, [20.08.21 14:54]
Wait…

David Kay, [20.08.21 14:54]
was that an offer from you to partner on something?

David Kay, [20.08.21 14:54]
Yikes….

David Kay, [20.08.21 14:55]
She’s straight ignoring me now…..

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:55]
No

David Kay, [20.08.21 14:55]
(awkward)

David Kay, [20.08.21 14:55]
hahhahha….

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:55]
It was me asking you if you had any partners you want to highlight?

David Kay, [20.08.21 14:55]
I know. I know. Attempted humor. Poorly executed.

David Kay, [20.08.21 14:55]
We do not.

David Kay, [20.08.21 14:56]
But we will have an announcement next week on our further expansion.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:56]
Anything further you would like to tell people before I open the floodgates for user questions?

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:56]
Actually, I do have one more question for you.

David Kay, [20.08.21 14:56]
Nope. Just binanceclaim.com

David Kay, [20.08.21 14:56]
Shoot

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:56]
In class action lawsuits the settlement is usually very small per person, besides those who filed. What do you think hypothetically the settlement against Binance could yield?

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:57]
[In reply to David Kay]
It’s the thought that counted

David Kay, [20.08.21 14:57]
Great question. There is no concept of class action in arbitration, but I get your point.

We think it’s in the 100s of millions

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:57]
[In reply to David Kay]
[ 😒 Sticker ]

David Kay, [20.08.21 14:58]
The 6 people in our steering cmte have $20mm+ of claims alone

David Kay, [20.08.21 14:58]
The more people that sign up – the larger the claim will be

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:58]
[In reply to David Kay]
oh my

David Kay, [20.08.21 14:58]
But I firmly believe that Binance will pay.

The Cat 🐱 Head Admin Of Bitsquad Check The @ (DON’T SEND CRYPTO), [20.08.21 14:58]
Alright getting ready to open the floodgates

About Catoshi Nakamoto

c6ea0c3794492f30883e516d39b2597a?s=90&d=blank&r=g Bitsquad AMAs: Liti Capital On Its Campaign To Sue BinanceActivist/Journalist, former writer - We Are Change, The Mind Unleashed, Coinivore, others. Currently writing for - Activist Post and Bitboy Crypto. Not Right or Left Apolitical. I Care About Truths (CATS.) Cryptocurrency enthusiast, I mined and lost 100+ BTC in 2010-2011. I work with - Bitboy, SoMee, CEEK, Presearch, and W3BT aka FMW Media Group. Friend of mostly everyone who isn't a dick. Just A Cool Cat.