Bitcoin reaches ATH, Coinbase stock reference price of $250 and lawsuit against Faketoshi
Bitcoin reaches all-time high above $64.500
In the market rally which started yesterday, the Bitcoin (BTC) price has shot another 6% today hitting its new all-time high of $64,500 levels. Because of this, the market cap touched $1.2 trillion thereby making it even bigger than Britain’s Sterling Pound (GBP).
This makes Bitcoin the sixth largest currency in the world as per its valuations. Just a few days back, Bitcoin toppled the Australian Dollar (AUD) as it surged to record highs.
Coinbase direct listing starts today, reference price at $250 per stock
The American crypto-exchange Coinbase will make its debut on the stockmarket today. Yesterday the Nasdaq shared their reference price at $250 for the COIN-stock.
The price is far below the current FTX pre-trading price of $600. The trading volume although is not extremely high: under $4 million.
The exchange is going public via a direct listing instead of an IPO, meaning the reference price is not a direct indicator of the company’s market cap. It simply implies a valuation of $65 billion, which is below other estimates ranging between $68 billion and $120 billion.
In the lead-up to the Nasdaq listing, Coinbase surprised all 1,700 full-time employees by giving them 100 shares each, worth $25,000 at the current reference price. The March 25 “thank you” gift is a no-strings-attached grant, meaning they could sell them immediately after the listing goes public tomorrow.
Civil lawsuit against Craig Wright by COPA
The Crypto Open Patent Alliance (COPA), a bitcoin industry working group focused on patent laws, has filed a civil lawsuit in the UK against Craig Wright. For many years now Wright has insisted he is Satoshi Nakamoto, but has yet to prove so to the greater crypto community.
COPA is looking to get the UK High Court to rule that Wright is not the rightful owner of the Bitcoin white paper.
Basically, COPA is seeking an injunction against Craig Wright so it can restrain him from pulling the same tactics again. The Australian forces several websites to stop hosting ‘his’ whitepaper some months ago.
The lawsuit was filed on April 9, 2021, and the organization wants the Intellectual Property List of the High Court of Justice Business and Property Courts of England and Wales to rule on the matter.
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