Article: US courts dismiss manipulation allegations involving Bitcoin Cash

Article - Media, Publications

US courts dismiss manipulation allegations involving Bitcoin Cash

Shaurya Malwa, 02 April 2021

US courts dismissed an antitrust lawsuit that alleged prominent investors and individuals schemed to hijack the Bitcoin Cash network, the world’s thirteenth largest crypto network by market cap.

A controversy around Bitcoin Cash

The complaint, amended in March 2020 and filed by crypto company United American Corp (UAC), named Bitcoin Cash proponent Roger Ver, crypto exchange Kraken founder Jesse Powell, BTC mining giant Bitmain and CEO Jihan Wu, and Bitcoin Cash developers Shammah Chancellor and Jason Cox as the alleged participants in the scheme.

UAC first brought its suit in December 2018 and alleging the named individuals had effectively manipulated and devalued Bitcoin and pushed the firm out of the network after it had invested over $4 million. Continue reading “Article: US courts dismiss manipulation allegations involving Bitcoin Cash”

Article: High Profile Crypto Execs Dodge Bitcoin Cash ‘Hijack’ Lawsuit

Article - Media, Publications

High Profile Crypto Execs Dodge Bitcoin Cash ‘Hijack’ Lawsuit

Andrew Asmakov, 02 April 2021

A federal court in Florida has dismissed an antitrust suit filed against Bitcoin.com founder Roger Ver and several other prominent figures in the crypto industry, accused of market manipulation during a contentious split of the Bitcoin Cash network in November 2018, Law360 reported.

Other defendants in the case included Kraken CEO Jesse Powell, former CEO of Bitmain Technologies Jihan Wu, as well as Bitcoin Cash developers Shammah Chancellor and Jason Cox.

First filed by United American Corp (UAC) in December 2018 and amended in March 2020, the lawsuit claimed that the defendants colluded to manipulate the cryptocurrency market to favor Bitcoin Cash as some participants on the network were engaged in creating a competing clone called Bitcoin SV. Continue reading “Article: High Profile Crypto Execs Dodge Bitcoin Cash ‘Hijack’ Lawsuit”