- Krzysztof Gagacki accuses Edmund Truong of going rogue and tarnishing his image to business partners.
- Edmund Truong allegedly stole $2 million belonging to both co-founders.
- Edmund erased Gagacki’s employment history on the company’s LinkedIn employment history.
A co-founder of the NFT app, Rebase, has filed a case against Edmund Truong, a business partner, and the other app’s co-founder.
Krzysztof Gagacki, a business partner of Edmund, has raised his voice against the unfairness Edmund Truong has been perpetrating recently. He claimed that the Rebase co-founder had gone rogue.
According to the April 17 court filing, Gagacki had eight complaints against Edmund: breach of contract, conversion, breach of fiduciary duty, intentional interference with economic advantage, defamation, declaratory relief, joint law trademark infringement, unfair competition, and unfair competition.
According to the complaint, Gagacki lost $2 million in Bitcoin that she and Edmund had stored in a single virtual wallet on October 27, 2022. The two business partners managed and used the wallet to power the NFT app. Knowing and acknowledging that the money belonged to both of them, Gagacki alleged that Edmund had taken it.
Edmund had not only stolen $2 million from the company but had also fired Gagacki and was passing himself off to outsiders as the sole proprietor of the Rebase app.
To construct the Rebase application and secure the investments that have increased its value and profile, Mr. Gagacki has devoted significant time, money, and “sweat equity,” as stated in the petition.
Also, Edmund was said to have spoken ill of Gagacki in a defamatory manner. Plaintiff referenced a non-fungible token (NFT) project dubbed Cy-B3lla involving popular American model Bella Hadid as one of his failed business ventures.
On March 9, 2022, Plaintiff’s company ‘IOVO AG’ agreed with Bella Hadid to use the model’s name, image, and likeness for an NFT project sold on the Rebase app.
However, Edmund had reached out to Bella Hadid’s team and announced that things had gotten out of hand within the company and that Krzysztof Gagacki was no longer employed at Rebase app.
Furthermore, Gagacki claimed that he recently discovered that Edmund Truong was in contact with Arbitrum about issuing the Rebase app’s new token on its native network.
The filing states that the Rebase app token should be listed on any popular cryptocurrency exchange. Its market value could skyrocket compared with the last record of the company’s valuation, which was $150 million.
Hence, the ousting of Gagacki from the company would deprive him of his right to the profit made by Rebase app.
Conclusion
Krzysztof Gagacki, a co-founder of Rebase app, has lamented the unfairness of the other co-founder, accusing him of several rogue actions which have proven to be disastrous to his name and reputation in the business industry.
