Bitcoin in a Suit: Why the Tech's Big Battle is Already Won
John Biggs is a New York-based writer. After spending years as a programmer, Biggs decided to become a full-time journalist. His work has appeared in publications such as the New York Times, Gizmodo and Men's Health. Biggs is currently an editor for TechCrunch and the CEO of bitcoin stealth startup Freemit. In this piece he details why he thinks bitcoin will eventually succeed. A week ago I was in Belgrade watching a panel on "blockchain." The makeup of the panel was typical: a young, plugged-in VC, an older banker guy and a crypto-anarchistic dude in a T-shirt. It was like watching a....
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The legal battle between Ripple Labs and the Securities and Exchange Commission (SEC) is taking major steps towards a final ruling after almost two years now. As Bitcoinist reported, Ripple Labs already published its brief rejecting a summary judgment on Friday. Shortly thereafter, the SEC followed suit with its judicial adversary. Both briefs are only […]
C7 Data Centers in Utah is suing CoinTerra for unpaid services and breach of contract. CoinTerra recently made news when due to an alleged debt it issued a message to its users saying that for the time being they would be unable to issue any payments. As their website remained fully functional, many customers looked at the message with a questioning eye. Now it appears as if things have taken an even greater turn downhill. C7, at one time a loyal and prominent business partner, is alleging that CoinTerra purposely underpaid for services and was continuously late in its repayment schedule.....
The SEC's suit against Ripple has triggered a steep sell-off in price for the payments token XRP. Meanwhile, prices for Chainlink's token have increased sevenfold this year, most among CoinDesk 20.
A legal battle between bitcoin payment processor BitPay and a major insurance company has ended. Filed yesterday, a court order dismissed the suit between BitPay and Massachusetts Bay Insurance Company, a subsidiary of Hanover Insurance, without prejudice. According to the court order signed by US District Judge Steve Jones, the two sides "have reached a settlement in principal". The suit traces back to late 2014, when BitPay lost approximately $1.8m in bitcoin during a phishing attack that targeted the company’s leadership team. At the time, the unknown attacker was able to....
Ripple CEO Garlington claims a “big win” in the dismissal of an SEC motion while remaining silent about the ruling on his own motion. Southern New York District Court Judge Analisa Torres issued two rulings Friday on motions filed in the Security and Exchange Commission (SEC) lawsuit against Ripple Labs.Ripple argued that it was not given fair notice by the agency that it would consider the token a security, thus denying the company due process. Judge Torres denied the SEC motion, filed in April, to dismiss this defense, and by doing so affirmed that the defense is viable in the suit — in....