Tag Archives: coinlab

Coinlab sues Mt. Gox for $75 million

If you’re wondering what’s going on with the price of digital currencies over the past day or so, this lawsuit between two of the biggest players in the bitcoin arena is likely to blame.

From the Gawker article:

The Coinlab-Mt. Gox juggernaut was supposed to bring a new level of service, along with the legitimacy that came with the Silicon Valley Bank’s backing, to Mt. Gox and the economy as a whole. The partnership was considered so important to the growth of Bitcoin that some observers credited it with sparking a massive 40% surge in Bitcoin prices past $250 when it was first announced, during which some big Bitcoin hold probably made millions. (At least until the price crashed back down again.) Now the biggest hope of Bitcoin has devolved into the biggest lawsuit.