Today’s news cycle brought us several interesting scoops. Wallets, integrations, releases and some news including a legal case against a popular cryptocurrency exchange were among the biggest stories that caught our eye. Check them out down below:
- Coinbase BCH insider trading case dismissed
US cryptocurrency exchange Coinbase was granted a motion to dismiss a lawsuit which accused it of insider trading.
After last year’s launch of BCH trading on the exchange, reports started popping up about Coinbase employees pre-purchasing the cryptocurrency before the launch was officially confirmed. The whole thing lead to an official lawsuit getting filed in March of this year.
The lawsuit included several Coinbase customers who claimed that they suffered monetary loss as a result of the mentioned and alleged insider trading.
The United States District Court North District of California published a court document this past Tuesday, explaining why the lawsuit was rejected.
In short, US District Judge informed the plaintiff Jeffrey Berk from Arizona that he hasn’t “sufficiently articulated the legal bases for his claims” in his lawsuit.
- Blockchain releasing a hardware wallet
The company that launched one of the earliest software wallets in the crypto world has now decided to enter the market of hardware wallets as well.
This new product is a result of a partnership with another well-known hardware wallet maker called Ledger.
The company’s new device is named Lockbox and is expected to start shipping in November.
It will have some unique features, including making crypto-to-crypto trades through Blockchain’s native exchange called Swap.
The wallet will support Bitcoin, Ethereum, and Bitcoin Cash to start.
- Edge Wallet integrates ShapeShift, Changelly, Stellar and XRP
Multi-asset wallet called Edge will be expanding its lineup with several new additions in its latest update.
The 1.4.0 update will integrate support for two new exchanges, ShapeShift and Changelly.
It will also include a unique decentralized crypto “price hunting” service.
Finally, the wallet will from now onwards support Stellar Lumens and XRP as cryptocurrencies that you can store on it.
- Wirex crypto debit cards gearing up for a U.S. Launch
In crypto-adoption encouraging news, a digital cryptocurrency wallet Wirex is moving forward with the recently announced launch of prepaid Visa Debit Cards.
The plans were announced on Twitter and the platform already has a waiting list for those who are interested.
Wirex team explained the benefits of this new product:
“Wirex users in the US will be able to take control of their digital and traditional currencies on a single, open platform. That means buying, storing and converting XRP, BTC, LTC and ETH in-app or on a browser, whilst enjoying world-class exchange rates and zero hidden fees.”
The cards will be made in partnership with a payments processing solution developer called i2c.
Merchants that accept Visa/MasterCard will also be accepting this Wirex card.
- AMD records a 30% drop in GPU sales as interest in crypto mining drops
A general drop in value of cryptocurrencies we saw in 2018 has definitely hit the crypto mining industry.
Demand for GPU devices has fallen off, and mining rig selling ads can be seen online with increased frequency.
The dip in mining interest has been felt by the tech giants who create these devices, as it was shown by a recently released report on AMD Q3 earnings.
As per the report, AMD’s expected revenue of $1.6 billion was never reached, with actual earnings being at around $1.45 billion.
With this significant drop in earnings, the company also saw the price of its shares drop by 22%.
Nvidia, another major GPU producer, experienced somewhat lower losses in the quarter, as did Samsung who expanded their production to accommodate crypto miner interest which never actually came.
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