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Bitmain, Kraken Dodge Bitcoin Antitrust Suit

By  |  April 1, 2021
Bitmain

China-based Bitmain Technologies, the world’s largest Bitcoin miner, and Kraken, a leading cryptocurrency exchange, escaped antitrust claims in a Miami federal court over their alleged scheme to control the direction of Bitcoin’s blockchain, which allegedly devalued the tokens by $4 billion worldwide.

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    Judge Kathleen M. Williams tossed the lawsuit by Bitcoin miner United American  from the US District Court for the Southern District of Florida, saying it failed to show the type of “contract, combination, or conspiracy” required to establish an antitrust violation, reported Bloomberg Law. 

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    The American company Unitedcorp had filed the lawsuit against “bitcoin cash abc” supporters. The company accused the supporters of hiring mining power in order to control the bitcoin cash network.

    Bitcoin cash is a so-called hard fork from bitcoin. On November 15, bitcoin cash made a new hard fork that ended in that the cryptocurrency split into the two different currencies “bitcoin cash abc”, now bitcoin cash, and “bitcoin sv”.

    After the split, supporters of both sides of bitcoin cash have been “fighting” against each other in order to become the biggest “bitcoin cash”.

    The American company Unitedcorp had accused the “bitcoin cash abc” side of collaborating in order to control and centralize the network.

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