Crypto advocates The Digital Chamber has backed Nvidia in a Supreme Court fight with investors, saying the court’s decision could affect the entire crypto industry.
The United States’ top court allowing a revived legal spat between chip maker Nvidia and a class group of its investors to go ahead could put the crypto industry at risk by opening it to a wave of “frivolous securities lawsuits,” an industry advocacy group claims.
In an Aug. 20 amicus brief, The Digital Chamber (TDC), formerly The Chamber of Digital Commerce, backed Nvidia’s bid for the US Supreme Court to reverse an appellate court’s decision from last August, which revived a suit claiming Nvidia downplayed the amount of GPU’s it sold to crypto miners.
The chamber’s founder and CEO, Perianne Boring, said that they “felt compelled to weigh in due to the grave risks of a potential increase in frivolous securities lawsuits based on nothing more than unfounded negative perceptions about the cryptocurrency industry and its high-growth business cycle.”
