..

Class Action Complaint Filed Against Bitcoin Exchange Coinbase: Claims 'Insider Trading'

Written by:
Guest
Published on:
Mar/04/2018

A class action lawsuit was filed against Coinbase this past Thursday on March 1 accusing the exchange of ‘insider trading’ for the bitcoin cash launch last December. The complaint filed by the plaintiff is demanding a jury trial for losses incurred on behalf of himself and the other customers involved.  Scroll Down For More

The 18-page lawsuit filing accuses the exchange of tipping employees a month prior to the official launch of bitcoin cash (BCH) on December 19, 2017.

An individual named Jeffrey Berk and others similarly situated have filed the class action.

According to Berk’s complaint, he says that customers who placed purchase, sale or trade orders on the BCH launch date suffered monetary losses due to alleged company employees tipping people off well before the release date.  

“On December 19, 2017, a month after tipping off its own employees as to when it would commence fully supporting BCH, Coinbase suddenly announced that it was opening up its books to the buying and selling of BCH within minutes after its announcements,” explains the class action lawsuit.

More From Bitcoin.com News:

Highly Organized Crime Blamed for $2mil Bitcoin Mining Burglaries - Local police in Iceland are describing it as the largest theft of its kind, if not ever, for the country. Hundreds of bitcoin mining computers were stolen from data centers, and there is worry the missing equipment could be used rather than sold, providing a tidy profit for what authorities are insisting is “highly organized crime.” 
Read more

GPU Producers Fear Drop in Demand from Crypto Miners - Reports concerning major manufacturers of graphics processing hardware have indicated expectations of decreasing demand in the cryptocurrency mining sector. Nvidia is unlikely to unveil new video cards in the coming months, while AMD has shared concerns of dropping GPU sales in 2018, blaming the crypto market and regulatory risks.    Also read: Report: Crypto Miners Bought 3 Million GPUs Last Year New GPU Launch Pushed Back Several...

Read more

Two Indian Token Marketplaces Suspend Trading Due to Regulatory Pressure -  Two Indian crypto token marketplaces have announced that they will halt trading from March 5. The platforms state that this is due to regulatory pressure which put their businesses “under a lot of stress.” Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Two Token Marketplaces Halt Trading Two Indian crypto token marketplaces, Btcxindia and Ethexindia, have announced that they will "halt cryptocurrency trading from March...

Read more

- Aaron Goldstein, Gambling911.com

Business/Financial News

MGM National Harbor Debuts “Casino Al Fresco”

MGM National Harbor Debuts “Casino Al Fresco”

Panoramic views of Northern Virginia married with the thrill of the next jackpot create a one-of-a-kind venue that can only be experienced at MGM National Harbor. Today, the integrated resort across the Potomac River from Washington, D.C. debuts an outdoor gaming terrace where guests can enjoy their favorite slot games in an unmatched setting.

Bitcoin Beat: BTC Nosedives, April 20 ‘Doge Day’?

Bitcoin Beat: BTC Nosedives, April 20 ‘Doge Day’?

Plus Calvin Ayre talks Bitcoin SV and why it is the most valuable blockchain network.

The Bitcoin White Paper: Combining and Splitting Value and Privacy

The Bitcoin White Paper: Combining and Splitting Value and Privacy

Dr. Craig S. Wright and Ryan X. Charles continue the video discussions in a series exploring the Bitcoin White Paper line-by-line. The next section tackles the principles of combining and splitting value as well as looking at how privacy relates to Bitcoin.

Coinbase Goes Public, Exposure to Regulatory Danger?

Coinbase Goes Public, Exposure to Regulatory Danger?

Coinbase is making its initial public offering of stock April 14 and this has helped push the price of Bitcoin up to near $64,000 as of Wednesday morning.

Sudan Embraces the Blockchain, Arizona One Step Closer to Sports Betting

Sudan Embraces the Blockchain, Arizona One Step Closer to Sports Betting

The Bitcoin Association and the BSV delegation was welcome by the Sudan government last week in an effort to implement blockchain technology and this week Arizona was well on its way to becoming the next US state to legalize sports betting with only the Governor's signature needed.

Syndicate