Crypto Co. Parent Seeks Own Exit From Market 'Hijacking' Suit

Law360 (October 18, 2019, 5:56 PM EDT) -- Bitmain Technologies Holding Co. asked a Florida federal judge on Thursday to dismiss it from claims that its bitcoin mining subsidiaries hijacked a cryptocurrency software upgrade to wrest control of the Bitcoin Cash network.

The parent company said it is separate and legally distinct from Bitmain US and Bitmain Technologies Ltd., yet an antitrust lawsuit brought by United American Corp. over an alleged $4 billion "global capitalization meltdown" tied to the Bitcoin Cash software update is trying to collapse all three entities into one, broadly referred to in the complaint as "Bitmain."

"UAC has not alleged that BTH specifically had any...

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