America’s 19th-richest family, the Sackler clan, made unfathomable riches by flooding the globe with OxyContin, sparking an opioid-addiction crisis that has killed hundreds of thousands of people. They now look set to keep the vast majority of their estimated $13 billion fortune if a controversial settlement, supported by the judge presiding over a key bankruptcy trial, is accepted by a Trump White House reportedly keen to declare some form of “victory” over Big Pharma before the election. The New Yorker reports the Sacklers, who own Purdue Pharma, which makes OxyContin, have said they will pay out a guaranteed $3 billion to […]
Payouts
3 posts
MakerDAO will not compensate victims of March 12’s “Black Thursday” flash crash that left some of the decentralized finance (DeFi) platform’s investors out $8.33 million, according to a vote that closed Tuesday. The Maker community had initially voted in early April to refund sunken investors. Nearly six months later and the community – represented by current holders of Maker’s MKR governance tokens – concluded a final vote to give zero compensation for lost funds. Some 65% of votes opted for zero compensation, with the next two options for partial compensation receiving 18% and 15%, respectively. The vote itself was dominated by large […]
Digital security manager Securitize, a blockchain-based transfer agent, has delivered a dividend-like payout to holders of one of its issuer’s security tokens — a company first. Distributing a “royalty payment” to holders of Lottery.com security tokens Friday, Securitize claims it has become the first registered securities record keeper, a transfer agent, that also disburses token-holder payments entirely on a blockchain. Transfer agents maintain and update securities ownership records as well as distribute payments, like shareholder dividends or interest (in Lottery.com’s case, a portion of raffle revenue) to owners. But transfer agents aren’t always “paying agents,” the ones actually delivering those payments […]