Lawsuits Abound Over Access to the Trade of Crypto Currencies

by 99Crypto

Here are some of the top stories this week in cryptocurrencies: Lubin Still Bullish on Cryptocurrencies Joseph Lubin, who is one of the co-founders of both ConsenSys and Ethereum, said that — in spite of recent declines in digital currencies — he thinks that the market will continue to grow. He attributed the current volatility in the market to speculative traders, and he insisted that their activity is not an indicator of the underlying strength of cryptocurrencies. Playboy Sues Blockchain Developer Playboy Enterprises has a filed a lawsuit against a Canadian blockchain developer called Global Blockchain Technologies. The suit alleges that the company has not integrated blockchain technology into the company online channels as they had promised, nor had they made a promised $4 million payment to Playboy. In March of this year, Playboy announced that they were developing an online wallet that would let customers pay for content in cryptocurrency. Falling Lira Sparks Interest in Cryptocurrency Turkey has seen a significant increase in interest in cryptocurrencies this month, coinciding with Lira's dramatic fall. Volumes at local exchanges have increased by more than 150% during the past week, and Bloomberg even wrote an article about how bitcoin is relatively stable in the country in comparison with the national currency. Cryptocurrency Investor Sues AT&T Michael Terpin has filed a $224 million lawsuit against AT&T, alleging that the telecom giant's negligence caused him $24 million in digital currency loses. Terpin believes that the company improperly gave a hacker access to his cell phone account, which in turn gave the hacker access to Terpin's cryptocurrency holdings, which were subsequently stolen. Federal Court Denies Motion Against Ripple A U.S. District Court representing the Northern District of California denied a motion brought by a collection of Ripple investors against Ripple and its subsidiaries. The investors, in a class action lawsuit, claimed that the company violated both the U.S. Securities Act and the California Corporations Code when they sold XRP tokens. But the court dismissed motion, saying that the plaintiffs failed to sufficiently prove their case.