Texas Court Hits Bancor DAO for Silence!

A Texas judge defaulted Bancor DAO for ignoring summons, hitting the DeFi platform's overseers with a ruling after the DAO ducked a legal call announced in January 2024. Investors say they lost millions over Bancor's failure to disclose liquidity woes, further claiming unregistered securities dealings. With new products like v3 promising high returns sans risk, plaintiffs argue they've been short-changed. Bancor’s on-chain protocol’s total value has plummeted substantially since its 2021 heights, leaving this fish to ponder - do "-DAO" really mean "Disappears And Obscures"?