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Judge Rules Coinbase Did Not Commit Any Fraud In The Bitcoin Cash Lawsuit

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Many best cryptocurrency news sites are reporting about Coinbase recently and stating that the exchange apparently did not act fraudulently during the botched launch of the Bitcoin Cash (BCH) altcoin. In the news today, a US judge rules that the exchange did not commit any fraud by halting the trading after two minutes – as it was claimed by traders.

For those of you who haven’t been following the latest cryptocurrency news on our website, in a court order that was issued on August 6th, the US District Judge Vince Chhabria of the Nortern District of California (San Francisco) decided to threw out the claims by traders and ruled that Coinbase did not commit any fraud-related activities.

The move that a judge rules Coinbase as good to go is the latest in a protracted lawsuit that was first brought to attention by a trader named Jeffery Berk over the events which occurred two years ago – in December 2017.

Bitcoin Cash (BCH) was then only four months old and being added to exchanges (even though the situation now is the same). Coinbase initially added the altcoin to its trading platform – but once it did – it produced a spike in the price along with a subsequent decision to close trading, which left users wondering and being unable to sell at higher prices. BCH was high-valued in the altcoin news at the time.

Following this debacle, many accused Coinbase of insider trading and manipulating the markets. However, the coming altcoin news show that judge rules Coinbase did not do any harm.

“The plaintiffs identify three potential laws for the ‘unlawful’ prong: the Commodities Exchange Act, the FinCEN rules, and New York state regulations,” the US judge Chhabria summarized.

He also said:

“Even assuming Bitcoin Cash is a commodity subject to the Commodities Exchange Act, the complaint does not sufficiently explain how the launch manipulated the market for Bitcoin Cash or for Bitcoin. Nor does it plausibly or coherently describe Coinbase and Armstrong’s motive to manipulate the prices.”

Plaintiffs will now move forward and the BCH launch, according to Chhabria, was enacted too quickly.

“The motion to dismiss the fraud claims is granted. The plaintiffs have not particularly pleaded their reliance on Coinbase’s allegedly fraudulent statements,” the judge concluded.

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Bitcoin Cash News

Mining Pools Aim To Divert The Bitcoin Cash Infrastructure

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Some of the major mining pools aim to change the entire infrastructure of Bitcoin Cash by diverting the 12.5 percent of the block rewards for further development of the entire network so let’s find out more in the coming Bitcoin cash news.The CEO of BTC.TOP, one of the largest BCH mining pools, revealed that the miners agreed to the proposal and now Bitcoin Cash is about to embark on another one of the hard decisions as the top mining pools aim to develop the infrastructure and to improve funding for the miner block rewards. If the mining pools decided to donate a share of the rewards, they would likely have been no controversies. However, by deciding to empty the blocks of the miners who don’t want to contribute a portion of their rewards, the mining pools have really become the center of attention in the crypto community.According to the data from Coin.Dance, the top five mining pools that agreed to this proposal, BTC.TOP, BTC.com, VIABTC, AntPool, and Bitcoin.com, control 28.5% of the network’s hash power. Zhuoer stated that the proposal should go live by May 2020. The only way to implement this decision is to deploy the code through a hard fork which also means that if the community disagrees with the initiative, they will have to block it. If the developers of Bitcoin Cash upgrade the protocol and facilitate the hard forks end up disagreeing with this, it will be difficult for the miners to overcome this decision unless they leave the network.The fact that the miners are willing to give up some of their revenue for better infrastructure shows that they are too committed to the ecosystem to move out of the BCH and redirect their machines to another SHA-256 cryptocurrency. Some of the other miners who only want to make a revenue could likely switch from BCH. BTC miners earned an average of about 55 BTC in fees per day while the Bitcoin Cash miners earned only 0.5938 BCH. Considering about 50 percent of BCH’s hash rate comes from the undesignated mining pools, any impact on the profitability could see the network losing a lot of hash power.
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Bitcoin Cash News

Technical Analyst Sees Bitcoin Cash (BCH) Surging By 80% Soon

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One of the most popular cryptocurrency analysts out there is in the Bitcoin Cash news today for stating that the coin could rise by 80% in the first half of 2020. DonAlt is the technical analyst who sees BCH generating a 80% run and discussing the bullish prospects of the fifth largest blockchain project by market cap.As he revealed in a post on Twitter, the BCH-to-dollar exchange is expected to hit $380 in 2020, revealing that he would open a long position towards the said upside target.https://twitter.com/CryptoDonAlt/status/1213030196586205184These statements also followed BCH's impressive gains in the spot market during the Friday session. This was when the cryptocurrency soared up to 11.11% or $21.66 as the US killed a top Iranian military official. All of these events sent investors looking for haven assets, pushing the prices of gold and oil higher.The upside sentiment also crept into the crypto market. As the technical analyst summed up, eight hours after the US attack the Bitcoin price registered 6% gains. As it appears now, other altcoins merely tailed Bitcoin - and the forked Bitcoin Cash (BCH) has been bringing maximum profits home.DonAlt also noted that Bitcoin Cash could attract a considerable capital from the neighbouring Bitcoin markets. He noted that the BCH to BTC exchange rate is forming an inverse head and shoulder pattern on the daily charts. Traditionally, he thinks this is a sign of a bearish reversal.As the technical analyst summed up, the trade should play out like the following....A break above the red neckline will signal a sharp move higher confirmed by a spike in volume. The ideal bullish target for a jump is equal to the distance between the inverse bottom and neckline.Considering that the red neckline is coinciding with the 0.029 BTC level, the ideal upside target for long positions is around 0.032 BTC. As the technical analyst said in today's cryptonews:
“The BCH/BTC chart is an absolute beauty.”
Meanwhile, another market analyst named Beastlyorion in November predicted that Bitcoin's dominance could break below 66%. If this happens, he added that traders would exchange their Bitcoin (BTC) holdings for altcoins.Other analysts think that Bitcoin will be even more dominant in the long-term and eat out the market cap of altcoins. The involvement of Wall Street firms like Fidelity and Bakkt in the market has already ramped up the scenario.
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Bitcoin Cash Shows Bullish Bias, Holds Ground At $205

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Bitcoin cash shows bullish short-term and medium-term trading bias, holding its ground at $205 as per the latest Bitcoin cash news and updates. The four-hour time frame shows that a bullish inverted head and shoulders pattern is in the making.The cryptocurrency could even start to go towards the $280 level. Bitcoin cash shows bullish bias as it continues to strengthen above the technically important $200 level. The technical analysis shows that if the bulls manage to rally the crypto above the $225 level, the BCH/USD pair could continue its advance towards the $280 level. The BCH/USD pair staged a strong recovery from December and gained more than 25 percent since December 18.Bitcoin cash aimed to close December flat with a gain of 35 percent. The four-hour time frame shows that the BCH/USD pair has turned bullish which is a first since mid-November and a bullish inverted head and shoulders pattern will form if the bulls carry the price to the $225 level. The size of the pattern suggests that the BCH/USD pair could rally towards the $270 level if the bulls ignite the bullish pattern. The daily time frame shows that the medium-term analysis is well aligned with some major trendline resistance standing at the $225 level.Looking at the daily time frame, the BCH/USD pair’s 200-day moving average offers dual resistance around the $280 level and the technical indicators are also pretty bullish over the medium-term with the Relative Strenght Index showing a strong buying signal. The four-hour time frame shows a key technical resistance forming at $215 and $225 but also the key technical resistance over the medium-term is located at $270 and $280.The four-hour time frame shows that the BCH/USD pair has a very strong long-term technical support around the $190 and $200 levels. Staging a reversal from the current levels and sustained weakness under the $170 level will only expose the BCH/USD pair to additional losses to the $150 level. Bitcoin Cash staged an impressive reversal from the worst level of December and the bulls are now eyeing the $225 level. This level could confirm a major upside rally towards the $270 to $280 technical region.
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Are Dash And Bitcoin Cash Considering Getting Merged?

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Blockchains got into a lot of competition in 2019 and only a handful of the projects remained in good condition. Because of this, there are some rumors which we will try and find out in the Bitcoin cash news if they are true, regarding a Dash and Bitcoin cash future partnership.Dash and Bitcoin cash were put together in a group as two chains that could merge and produce a Bitcoin Dash brand. Amanda Johnson, one of the most known Dash promoters and supervisors proposed the idea. The immediate response was that the connection will produce an even worse situation and will mix two extremely compromised assets.The ‘’fact’’ that Bitcoin cash is a superior brand fell flat among the crypto users and many stopped using it because of its continuous sliding in price and the asset even gained the derogatory nickname ‘’bcash.’’ The Bitcoin Cash technology is really close to the first-generation blockchain but with the few additions of emergency difficulty recalculation which prevents the SHA-256 miners from gathering all the blocks then leaving the chain and slowing it down.The Dash network, on the other hand, is working on its protocol and has problems with the MasterNode security still. This feature of the Dash project is the network of ambassadors who usually receive compensation for increasing the usage of the platform. So far, the DASH network has not managed to produce the promised goals such as the human-readable addresses. The asset has been compromised even more since the users see it as a pump and dump scheme. At one time in history, DASH reached a top 5 position but later fell into obscurity and crashed by 50 percent in 2019. Dash fell to $39.95 and is now trying to get away from an exit scam after one of its supervisors left with the funds held in custody.Both of the networks face many issues. Dash was mainly liked because of its anonymous features but in 2019 this feature got discouraged and the Dash users later choose not to use the feature at all. The other problem for a merger will be the specific node structure on the chains. Running a Bitcoin Cash node is really resource-intensive since the networks usually propagate huge blocks. the Dash network prefers to sell nodes which also is a huge investment.
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