Coinbase, a California-based cryptocurrency exchange, is getting sued by users that bought Bitcoin Cash after a mishandled listing that occurred at the time of the crazy crypto price swings of 2017. The news was announced by Coindesk on August 7.
Vince Chhabria, the United States\ Judge of the Northern District of California, rejected the crypto company’s request for settlement. According to Coindesk, Judge Chhabria stated that it was reasonable that the platform violated its responsibilities to sustain stability in the marketplace.
The judge claimed that Coinbase stopping trading 3 minutes after Bitcoin Cash has released is a sign of poor operation.
The lawsuit was started by Jeffree Berk, a resident of Arizona that had used Coindesk, back in 2017. After the platform announced listing Bitcoin Cash, the coin’s value immediately increased. Jeffree Berk filed the lawsuit in the interest of other crypto traders, yet, before this one, two other cases were dismissed.
Although two firms hired 2018 didn’t find any evidence about the company doing anything wrong, Judge Chhabria is not convinced. He stated that the company still has to prove that it took all possible measures to avoid issues.
The Judge also mention that the exchange encouraged users to invest in Bitcoin Cash and was trusted by them.
The post COINBASE SUED BY BCH PURCHASERS appeared first on Bitcoin News.
from Bitcoin News https://www.cryptocynews.com/coinbase-sued-bch-purchasers/
via Bitcoin News
via Bitcoin News Today
No comments:
Post a Comment