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Bitcoin Price Hits $10,000 on Obscure Cryptocurrency Exchange

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  • Alex Dovbnya
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    The price of Bitcoin randomly surged to $10,000 on the FTX exchange

Bitcoin Price Hits $10,000 on Obscure Cryptocurrency Exchange
Cover image via u.today

Bitcoin once again touched the coveted $10,000 price level, but this only happened one the FTX cryptocurrency derivatives exchange.

At press time, the top coin is sitting at $8,744, according to CoinStats data.   

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The enormous price spread prompted some Twitter users to accuse the exchange of manipulating the crypto market. 

Ironically, Sam Bankman-Fried, the CEO of the exchange's parent company Alameda Research, asked CoinMarketCap to include FTX on its newly launched list of the most liquid spot markets just hours before the embarrassing candle happened.     

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FTX had already made a lot of buzz in November even before the aforementioned incident. At the beginning of the month, Alamada Research was slapped with a $150 mln lawsuit for market manipulation and racketeering.

This came after an accidental attack on Binance's futures platform that took place on Sept. 15. Since Binance's liquidations are tied to the index price, the market wasn't affected, but the plaintiff insisted that the was still significant damage involved.    

Alameda Research quickly dismissed the "nuisance suit," claiming that it had no evidence to back up any wrongdoings. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security

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  • Alex Dovbnya
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    Ripple makes a final push to dismiss the damning class-action lawsuit ahead of a court hearing that is scheduled for January 2020

Ripple Once Again Tries to Toss Class-Action Lawsuit, Insists XRP Is Not a Security
Cover image via 123rf.com

Ripple has once once again asked a federal court to dismiss the pending class-action lawsuit over selling illegal securities, a new court filing shows.

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The company reiterates the same "statue of repose" argument, which means that the plaintiffs failed to meet a legal deadline for filing the suit. Ripple started selling XRP to retail investors back in 2013, which means that it was way too late to bring legal actions against it back in summer 2018 after a bar to a lawsuit was imposed in 2016.    

The blockchain behemoth also continues to insist that XRP is not a security, but it called this issue "irrelevant" to their latest motion, which is why it didn't address this point in-depth. It's not the first time that Ripple tries to dodge the big question that is the cornerstone of the long-lasting legal battle. 

"XRP is not a security, but that is irrelevant for purposes of this motion. Even if XRP were a security, Plaintiff's claims still fail as a matter of law,” the filing said.   

Ripple's previous attempt to throw the suit out of the court didn't bode well. As reported by U.Today, Bradley Sostack, the leading plaintiff in the ongoing case, believes that the defendants are still liable for selling illegal securities. The parties are expected to duke it out in court in January 2020.  

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XRP's status as a security remains a point of contention within the cryptocurrency industry. Crypto influencer BitLord recently slammed Ripple for dumping their native tokens on investors to acquire businesses.    

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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