Canaan Mining Sued; Coronavirus Fear Postpones Bitcoin Conference; India Central Bank Appeals

TL;DR: Welcome to In Case You Missed It (ICYMI), a daily crypto news update. Canaan Mining sued over initial public offering. Bitcoin 2020 conference postponed due to coronavirus health-related concerns. SPICE now available in General Bytes Bitcoin ATMs. IOTA founder to reimburse victims of hack with his own money. Bitcoin Cash Node developers offer AMA, and Reserve Bank of India will fight recent Supreme Court ruling that suspended cryptocurrency ban.

Canaan Mining Sued Over Initial Public Offer

Bitcoin 2020

Canaan Mining, the first cryptocurrency mining manufacturer company listed on NASDAQ, is being sued by a stockholder over the information it turned prior to the IPO. Phillippe Lemieux, a Canaan investor, started a class action lawsuit stating the company issued a series of misleading statements to make it seem financially healthier than what it really was at the time of the IPO. The suit also lists all the underwriters of the mining firm as defendants, including Galaxy Digital. The suit takes most of his allegations from a blog article called “Canaan Fodder,” a post written by MAV, a market research firm.

Bitcoin 2020 Conference Postpones for Coronavirus Health Concerns

Bitcoin 2020, one of the most anticipated  Bitcoin conferences of the year, has been postponed until the third quarter due to public health reasons surrounding coronavirus and its potential spread. Organizers of the Bitcoin 2020 conference issued a PR stating they feel “disappointed to ask you to wait a few more months,” but they also point to this being a celebration of the Bitcoin ecosystem like no other. All tickets purchased for the event will be accepted for the new dates, and the Bitcoin 2020 team will work with each one of the buyers on a case by case basis to issue refunds.

SPICE Now Available in General Bytes ATM’s

Bitcoin 2020General Bytes, the world’s biggest cryptocurrency ATM manufacturer, and based in Florida, introduced support for SPICE, the leading SLP token, in their ATM software, according to a report posted on Reddit. The accompanying image shows SPICE being added to the list of cryptocurrencies available in the software used by General Bytes ATMs all over the world. This integration can also be used as a template to support and integrate other SLP tokens in the future. However, this is just a code commit, and there are still no images of the software working in the wild.

IOTA Founder Will Personally Reimburse Hack Victims

Bitcoin 2020

David Sonstebo, one of the founders of the IOTA Foundation, declared he will reimburse funds from users affected by the earlier Trinity wallet hack. In a post related to the incident, Sonstebo stated that a “significant portion” of his own holdings will be directed towards resolving this “unfortunate incident.” The IOTA network was halted more than three weeks ago to stop users’ funds from being taken by the hackers, with the IOTA Foundation stopping its so-called Coordinator, a central component that checkpoints valid transactions.

Bitcoin Cash Node Devs Offer Clarifying AMA

Developers of the Bitcoin Cash Node implementation, a new full node software for Bitcoin Cash, answered several questions about the project’s future. The team talked about the principal objective of the implementation and the origin of the funds fueling this initiative, and also explained how funds will be spent. Bitcoin Cash Node rose as an alternative to Bitcoin ABC, but without including the software that serves to issue a vote for the IFP (Infrastructure Funding Plan) presented earlier this year by Jiang Zhuoer, founder of mining pool BTC.TOP.

India’s Central Bank Will Fight Removal of Crypto Ban

The Reserve Bank of India, the country’s central bank, announced it will fight the recent ruling of the Supreme Court that struck down a nearly two-year cryptocurrency ban. The RBI will file a new petition to review the decision which allows crypto trading and holding possible again for common citizens.

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