BitMEX is Being Sued for $300 Million – December 12

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$7,191

Bitcoin has had another choppy day of trading with another small short-squeeze,  before settling back into the low $7,000 range.

Top-20 altcoins appear to be stabilizing, with Ethereum up 0.5%, while XRP has dropped a mere 0.3%. HedgeTrade is the biggest loser today, correcting 10%.

Top Stories for December 12, 2019 🔥

👉 BitMEX is Being Sued for $300 Million

BitMEX is being sued for $300 million by the alleged first seed-investor of the exchange in 2015.

The seed investment was meant to be converted into equity at a later date, however this never occurred. The equity would be worth $50 million today.

The plaintiff claims that BitMEX gave him false information, and is seeking $300 million to compensate for the equity and punitive damages.

👉 Germany’s solarisBank Announces Digital Asset Custody Service

German Bank, solarisBank, has launched a new subsidiary called solaris Digital Assets GmbH.

The platform is designed to offer custodial services for digital assets, and offers an API-access for partner companies. These companies will be able to create their own app-based front ends for the service.

👉 Twitter Founder Wants to Decentralize the Platform

Jack Dorsey, CEO of Twitter, has announced that he is recruiting a team of developers and designers to develop an open, decentralized standard for social media.

He stated his goal as Twitter being a client of the standard, highlighting problems with the current state of social media platforms.