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”
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”
Fidelity Joins Race for US Bitcoin ETF
THESTREET CRYPTO, 25 March 2021
Fidelity has made an application with the U.S. securities regulator to offer a Bitcoin exchange-traded fund (ETF), according to public filings. The Block was the first to report on the application.
The asset management firm lodged paperwork for the Wise Origin Bitcoin Trust, which would track the price of Bitcoin using data from predominantly U.S.-based exchanges: Coinbase, Gemini, ItBit, Kraken and Bitstamp.
“An increasingly wide range of investors seeking access to Bitcoin has underscored the need for a more diversified set of products offering exposure to digital assets,” a Fidelity spokesperson told Bloomberg.
Fidelity is perhaps the highest profile name to apply for a Bitcoin ETF this year. Five other contenders are vying to become the first U.S. Bitcoin ETF, including VanEck, First Advisors/Skybridge and NYDIG. Continue reading “Article: Fidelity Joins Race for US Bitcoin ETF”