US Judge Dismisses Bitcoin Cash Antitrust Suit

A US court has dismissed a lawsuit accusing bitcoin cash proponents including Bitmain, Bitmain co-founder Jihan Wu, Kraken, Kraken founder Jesse Powell, and Roger Ver of manipulating the cryptocurrency’s price during a 2018 hard fork that created bitcoin, reported Reuters. 

Florida-based tech and blockchain development company United American Corp (UnitedCorp) accused nine defendants of colluding to “hijack” and manipulate bitcoin cash during the 2018 network fork in what could be the first US antitrust case to involve cryptocurrency companies. In addition to Bitmain and Kraken, the suit was filed against Bitcoin ABC developers Amaury Sechet, Shammah Chancellor and Jason Cox.

US Magistrate Judge Chris McAliley of the Southern District Court of Florida, dismissed the case without prejudice, meaning the plaintiff can file an amended version of the case.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.