A group of Australians is gathering clients to launch a $500 billion class-action lawsuit against tech giants Google, Facebook, and Twitter for conspiring to damage the cryptocurrency industry all the while planning to launch their own cryptocurrencies at the same time.
According to a video posted by a group going by the name JBP Liberty, the lawsuit is based on the claim that the three tech giants cooperated like a “cartel” to destroy the cryptocurrency industry by operating in concert to ban all advertising for companies and individuals trying to launch businesses based on digital money.
But, only a year later, Facebook then began rolling out plans to launch Libra, its own digital currency. And on the heels of that announcement, suddenly all three tech giants slowly started scaling back their bans on advertising for cryptos.
In a video announcing the lawsuit, writer and activist Brian of London explains how the three big tech companies acted like an illegal syndicate under Australian law.
“Immediately after these companies started banning the advertising of basically an entire industry, the cryptocurrency markets dropped like a stone and, they carried on dropping,” Brian said. “In fact, we just come through over a year of what the crypto industry called the crypto winter.”
“What we have here is that Facebook decided to destroy an industry a year and a half ago, that was worth billions of dollars – was billions of dollars of activity – there were companies starting up raising money trying to put their product out on the market,” he continued. “And suddenly these new start-ups and anybody in the field was denied access to the world’s largest online advertising space, which is Facebook, Google, and Twitter together.”
But then Facebook announced its own digital money project and the big three began pulling back on the ad ban. When that happened, Brian then noted, some cryptocurrency markets shot upward.
The group launched a website asking visitors if they are “sick of bias, censorship, security breaches, no privacy and anti-competitive behavior” and the “abuse of power” of big tech.
“Facebook, Google & Twitter’s illegal attack on the Cryptocurrency Industry has created the weapon to restore freedom to the internet,” the group added, “A class action legal claim against Big Tech huge enough to destroy them and empower their decentralized, secure, censorship-resistant replacements.”
The lawsuit is headed by Australian litigator Andrew Hamilton who has 25 years of experience in Australian law.
JBP Liberty is now actively seeking folks who feel they were harmed by the big three ad bans to join their lawsuit.
Follow Warner Todd Huston on Twitter @warnerthuston.Don't forget to Like Godfather Politics on Facebook and Twitter, and follow our friends at RepublicanLegion.com on Instagram.