U.S. Court Dismisses BitGo’s Lawsuit Against Galaxy Digital
By BtcCasey          

In a recent development, a U.S. court has dismissed the lawsuit filed by BitGo against Galaxy Digital regarding a failed merger that had been agreed upon in 2021. BitGo, in response to the terminated merger agreement, alleged that Galaxy Digital had not fulfilled its obligations, stating their intention to hold the company legally accountable for its decision to terminate the merger. BitGo's lawyer added that Galaxy Digital owed them a promised $100 million termination fee or potentially faced damages of equal or greater value if found to be acting in bad faith.

Galaxy Digital, on the other hand, cited BitGo's failure to provide audited financial statements for 2021 that complied with the agreement's requirements as the basis for terminating the merger. According to court documents released on June 9, the court deemed this to be a valid reason for ending the merger, effectively voiding the termination fee.

In response to the court's decision, Galaxy Digital released a statement on Twitter expressing their satisfaction with the dismissal of BitGo's claims. They emphasized the need for collaboration, stating that it was time to focus on upgrading the global financial system in a manner that promotes innovation and safeguards the interests of investors and consumers.

Interestingly, BitGo made headlines recently with the announcement of its preliminary agreement to acquire Prime Trust, its primary competitor in the United States. While specific details about the merger have not been made public yet, speculation had been circulating within the industry about potential financial difficulties faced by Prime Trust. As a result, the agreement has been viewed as a positive development, averting the anticipated failure of another major firm.

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🚫 Damus Banned On App Store?

Decentralized Social Networking App Damus Set To Be Removed From Apple's App Store
By BtcCasey

The decentralized social networking app, Damus, is facing the possibility of being removed from Apple's App Store due to a violation of their guidelines. Apple alleges that Damus allows users to send tips or zaps associated with receiving content from digital creators through a mechanism other than in-app purchase, violating Guideline 3.1.1. The timing of this potential removal is significant, as Damus creator William Casarin was scheduled to give a talk at the Oslo Freedom Forum about the financial freedom brought by decentralized social networks integrated with lightning technology.

According to Apple's App Review communication, Damus has been given 14 days to submit an update compliant with the guidelines to ensure its availability. Failure to comply within the given timeframe will result in the app being removed from sale. This removal would not only affect current users but also impact external and internal testing through the TestFlight version.

The situation raises concerns about the implications for apps with Lightning integration and the limitations on peer-to-peer transactions within Apple's ecosystem. It remains to be seen how Damus and its creator will respond to this setback and whether they can find a solution that satisfies Apple's guidelines while upholding the principles of decentralization and financial freedom.

Interestingly, Twitter allows for tips through the Lightning Network if enabled on a profile, raising questions about the differences between this function and Damus' zap feature. Casarin expressed concerns about the impact on the ecosystem of apps with Lightning integration and value-for-value models if peer-to-peer transactions are restricted on the platform.

Casarin hinted at the removal of zaps in a note on Nostr, suggesting that it might be the next step to comply with the App Store regulations. The response from users expressed support and hope for the return of zaps in the future.

U.S. Congressman Warren Davidson and Twitter Founder Jack Dorsey also weighed in on the issue. Davidson stated on Twitter that permission-less peer-to-peer payments are essential for defending freedom, while Dorsey reached out to Apple CEO Tim Cook, requesting reconsideration of the decision and highlighting the capacity of such functions to include people in the global economy without traditional gatekeepers.

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