Thread by @wsfoxley

There’s a HUGE lawsuit underway at @ConsenSys no one is talking about. An it reads like a National Enquirer piece 🧵

1/10

@KavitaGupta19 was a general partner at ConsenSys alongside @ethereumJoseph. She managed a fund from $13.5 million to over $300 million from 2017 to 2019, until she resigned to teach at Stanford.

2/10

Two years later she’s asking for the carry she’s entitled to (20% of profits or ~$50 million).

Problem? Lubin won’t pay.

3/10

In a new lawsuit from last month, Gupta alleges Lubin won't pay so he can keep the carry. As the other GP, he would be entitled to the profits (and not ConsenSys).

drive.google.com/file/d/1AkDeju…

Gupta further alleges that she left ConsenSys after numerous cases of “misogyny,” “hard drug use,” and "illegal payments.” She didn't want to leave. She had to, and shouldn't be penalized for it.

5/10

But what does Lubin and ConsenSys have to say? Gupta lied about her resume and was ASKED to resign, meaning she lost her right to the carry.

documentcloud.org/documents/2117…

According to a separate filing after Gupta’s, ConsenSys alleges Gupta lied about degrees from Harvard and MIT, a job at McKinsey, space tech patents and even a stint with NASA (!!!). ConsenSys claims Gupta presented fabricated documents to back up her claims.

7/10

ConsenSys claims Gupta lost her carry after the “fraud” was discovered. With her suit, ConsenSys is now countering, asking for her salary, bonuses and any equity given back.

8/10

The curious part is the time discrepancy between the "resume fraud" being discovered, and her leaving the firm. The court will have to weed its way through two different time lines.

9/10

Takeaway? One of Ethereum's most important VC firms is about to go thru a messy legal ordeal. It could have implications for every founder, project and token involved.

10/10

Extra: All this information is public and stated in the linked documents. I have no affiliation with either party, but find it interesting given ConsenSys place in the larger ecosystem.