Federally approved digital asset securities platform Prometheum has filed a defamation lawsuit against crypto commentator Matthew Blumberg.

The dispute stems from a November 6 post on X, where the critic accused the firm of operating “an illegal unregistered commodities exchange” and engaging in shady dealings with the U.S. Securities and Exchange Commission (SEC).

Free Speech or Defamation?

Prometheum’s complaint, filed in the New York Supreme Court, argues that Blumberg’s statements were false, baseless, and damaging to its reputation. Further, the company claimed that the crypto enthusiast sought to boost his public profile as an industry expert at its expense. The legal filing cites several of the analyst’s offending posts, including one where he stated:

“They’re the scammers who testified in front of Congress reading the SEC’s talking points in exchange for a sweetheart deal where they were the only ones able to get a broker-dealer license to trade crypto securities.”

In the same post, Blumberg bragged about “constantly talking sh*t” about Prometheum while calling on the Commodity Futures Trading Commission (CFTC) to investigate the company for allegedly unlawfully operating a commodities exchange with regard to its custody of Ethereum.

In another post, the crypto watcher crowed over a possible implosion of the digital assets platform due to the impending departure of current SEC Chair Gary Gensler, whom he implied was some sort of protector of the firm.

Prometheum claims that these remarks, among others, were not only defamatory but also designed to stoke public distrust. The company further asserted that the comments have harmed