Stablecoin Lawsuit: Ex-RWA Exec Sues M0 for Fiduciary Breach
Ex-RWA Company executive Max Glass has filed a stablecoin lawsuit in Delaware Chancery Court. He claims M0 founders Gregory DiPrisco and Joseph Quintilian coerced him into signing away his rights. Glass alleges they diverted a joint RWA–CrossLend project into M0 without his consent or profit share.
M0 now powers MetaMask’s mUSD. The platform has issued $325 million in stablecoins and raised $100 million from investors including Polychain and Ribbit. Glass is seeking damages, restitution, rescission of his termination and an injunction on transfers of ownership.
Known for authoring the Maker Improvement Proposal behind a $100 million USDS loan, Glass’ stablecoin lawsuit highlights governance risks in asset-backed stablecoins. Traders may reassess real-world asset platforms amid growing legal scrutiny.
Bearish
This stablecoin lawsuit introduces legal and governance uncertainty around M0’s mUSD, likely weighing on trader confidence. In the short term, heightened scrutiny may trigger volatility and reduced capital inflows into mUSD and similar RWA-backed stablecoins. Over the long term, ongoing litigation could slow adoption of M0’s infrastructure and prompt stricter compliance measures across stablecoin projects, maintaining a bearish outlook for these assets.