China-based Bitmain Technologies Ltd., 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.
Judge Kathleen M. Williams tossed the lawsuit by Bitcoin miner United American Corp. from the U.S. 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.
“Neither count of the complaint expressly alleges that all defendants entered into an agreement, much ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.