PANews reported on January 23 that according to DL News, the legal dispute between Mikhail Egorov, the founder of the decentralized exchange Curve, and three cryptocurrency venture capital giants has once again made new progress. The California Court of Appeal upheld the ruling to dismiss the venture capital firm's lawsuit on the grounds that California was not the proper jurisdiction to hear the case. The dispute began in June 2020, when venture capital firms ParaFi, Framework Ventures, and 1kx invested $3 million in Swiss Stake GmbH, the company behind Curve. However, by August 2020, Egorov canceled the investment on the grounds of missing the deadline and allegedly withheld the equity that should have been delivered. In October 2022, the venture capital firm filed a lawsuit in California, accusing Egorov of fraud and misappropriation of funds, but Egorov denied the allegations. In September 2023, a San Francisco judge ruled that California had no jurisdiction and dismissed the case. The venture capital firm then appealed, but the California Court of Appeal upheld the original verdict.

On appeal, the venture capital firm accused Egorov of lying about the time he moved to Switzerland and claimed that he fraudulently induced it to agree to choose Swiss court jurisdiction in the investment agreement and then fled the United States to evade jurisdiction. However, the court held that Egorov's interactions with California were limited and indirect, and did not meet the "minimum contact" requirement for California to exercise jurisdiction over him. The judge pointed out that the venture capital firm's efforts to establish a business relationship did not constitute Egorov's intentional conduct against California. Therefore, the California court has no jurisdiction over the case. Egorov said that the venture capital firm can continue to object and appeal, but the court's decision is very well-founded.