Aptos CEO faces billion dollar lawsuit by Glazer family member over equity

05/20 15:53

The co-founder and CEO of Aptos Labs, the Layer 1 blockchain startup founded by former Diem employees, faces a lawsuit from an early investor alleging she was cheated out of her fair share of equity. Shari Glazer and her firm Swoon Capital are seeking up to $1 billion from Matonee, also known as Aptos Labs, according to a complaint filed with the Supreme Court of the State of New York in March. Aptos Labs was founded by former Meta employees with the goal of building a scalable Layer 1 blockchain, able to reach an audience of “billions” of people. The technology is based on the Diem payments network, which Aptos’s founders worked on while at Meta, the parent company of Facebook.

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