Crypto Cos., Bodybuilder Start Talks In $4.9M Bitcoin Suit

Law360, London (October 29, 2020, 4:17 PM GMT) -- Two cryptocurrency businesses have agreed to enter into settlement talks with a bodybuilder who brought a $4.9 million lawsuit over losses he claims he suffered when trading in Bitcoin using platforms provided by the companies.

Andrew Hochhauser QC, sitting as a deputy judge at the High Court, said in an order dated Oct. 27 that London-based Gatehub Ltd., Bitstamp Ltd., which has its headquarters in Luxembourg, and Salim Satir will engage in alternative dispute resolution talks.

Satir, who has been described as a bodybuilding sports coach in the proceedings, is suing the companies for allegedly misleading him about the services they provided. He has...

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