The Supreme Court of Gibraltar has unfrozen $PLAY tokens, marking a significant victory for governance and digital asset innovation. By doing this, the court has rejected the claims of David Bennahum, Davidi Gilo, and Scott Rupp. The high-profile case has swept up in favor of the CEO and Founder of PLAY and Ready Maker (Gibraltar) Ltd., Christina Macedo. This case has caught the crypto community for months, now declaring Christina as the one and only legal and beneficial owner.
Court Dismisses Claims, Affirms Legal Ownership of $PLAY Token
On April 17, 2025, Justice Restano delivered a 32-page judgment. Justice Restano claimed that the claimants’ case had “no real prospect of success”, declaring the freezing order as “oppressive.” He dismissed the claims by saying that, according to the Token Agreements, Bennahum and his affiliate Bitkraft have no longer any rightful claim to $PLAY.
Through Ready US, the claimants’ entity, the court declared them non-compliant since March 2023. The case was fully dissolved in March 2024, which further weakened their reputation. Through the court’s decision, the confidence in the PLAY ecosystem was remarkably restored. Previously, the coin has suffered from a $100 million pre-litigation market cap to a dramatic drop of $3.4 million which is at its lowest.
$PLAY to Set for Comeback as Legal Clouds Clear
For the strategic litigation that wants to disrupt decentralized innovation, the ruling of the $PLAY token marks a strong message. Macedo laid stress on the significance of $PLAY that has always operated transparently, with the best interest of its community. A renewed interest has developed in the $PLAY token by Backers such as Delphi Digital, Spartan Group, and Polygon Ventures. With this advancement, the community has refocused on the development of its ecosystem.
The claimants have misused the traditional and legal tools in the crypto landscape. James Ramsden KC has hailed the case as a “salutary lesson” for those claimants. The follow-up hearing is scheduled for the 25th of April aiming to consider indemnity costs. With this follow-up, the PLAY community is further regaining confidence with its footing and future.
