‘Lets Go Brandon’ Crypto Coin Class Suit Teed Up for Trial (2)

Whether “Lets Go Brandon Coin,” a meme cryptocurrency referencing the slogan used to criticize former President Joe Biden, are a security like stocks will go before a Florida jury.

LGBCoin purchasers sufficiently proved two of three tests for the memecoin’s security status, Judge Paul G. Byron said Tuesday, teeing up whether buyers had a reasonable expectation of profit for trial in the US District Court for the Middle District of Florida.

The US Supreme Court’s Howey test determines whether something is an investment contract. The coin purchasers bought LGBCoins through various exchanges by converting dollars into crypto, sufficient to ...