This week in the Bitcoin spectrum: Poloinex is acquired for $400 Million, Prism founder robbed of BTC in Moscow, Bitpay bans explicit content, Rapper 50 Cent denies owning Bitcoin, and “founder” of Bitcoin is sued for $10 Billion.
Bitcoin “Founder” sued for $10 Billion
Craig Wright, the man who previously claimed to be the infamous creator of Bitcoin Satoshi Nakamoto, is being sued for $10 Billion. This lawsuit is being brought forth by Ira Kleiman, on behalf of his brother, Dave, who has connections to the earliest days of Bitcoin and its foundation. Dave has allegedly been involved in several business ventures involving crypto mining with Wright. The case is based on the accusation that the rights to Bitcoin ownership were swapped by Wright, handing over shares to Kleiman which turned out to be worthless.
50 Cent Denies owning Bitcoin
50 Cent has been sharing social media tweets in January from TMZ, showing his possession of a healthy amount of Bitcoin which he received in the past. It seems as though now he has forgotten it, or rather has remembered things a different way. In the court proceedings of his bankruptcy he is recorded as having sworn under oath that he has not owned, nor has he ever been in the possession of Bitcoin or a Bitcoin Wallet. Curtis Jackson, 50 Cents real name, says that a third party had accepted the Bitcoin, processing the currency immediately through BitPay to convert from crypto to fiat currency.
Bitpay Bans Explicit Content
Bitpay, the popular cryptocurrency payment processor, under its new terms and conditions has effectively banned users involved with explicit adult content, gambling, and cloud mining and has been reported to be issuing notices to their already existing customers that soon their accounts will be suspended. This a move that is viewed by many as the company’s attempt to minimize its risk at the traditional fiat end of the business.
Prism Founder Robbed of BTC in Moscow
Yuriy Mayorov, the founder of the cryptocurrency Prism, has allegedly been reported to have been robbed of a multitude of Bitcoin in Moscow, Russia. Mayorov was beaten on the street by four men and was bundled into a Mercedes which they drove around until they had extracted his password and transferred 300 Bitcoins from his wallet into theirs.
Poloinex acquired for $400 Million
Circle, the Goldman Sachs backed tech firm, has announced that it will be acquiring the cryptocurrency exchange Poloinex. Fortune has been reporting that the price for this acquisition will be $400 Million. Poloinex is one of the oldest players on the market. Recently, however, the exchange has become stagnant and is losing its market position. Circle is a company that has a variety of interest in the cryptocurrency scene, included in this are many payment services which it hopes to overlap and in turn, it would provide more integrated services.
Bitcoin Price Round-Up
Last week Bitcoin started things off with a relatively high figure of around the $12,000 mark. However, it has been slipping and sliding across the week fluctuating in price by the 1000’s. In some cases, exchanges were reporting a $600 swing occurring within a time window of only 40 minutes. The volatility of Bitcoin it seems will stick around for a while. It may have found a safe spot at around the $10,000-12,000 mark but its swings are still very aggressive and it doesn't seem as if it will find stability anytime soon.