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Nvidia Faces Class Action Lawsuit Over Losses After Diminished Mining GPU Demand

Graphics processing unit (GPU) producer Nvidia is facing a class action lawsuit over the losses reported by the company when lower crypto prices diminished demand for GPUs by miners. Schall law firm announced the lawsuit on Dec. 24.The complaint states that “the Company made false and misleading statements to the

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Single Global Currency Like BTC Faces Insurmountable Obstacles, Argues Payments Firm CEO

Scott Galit, CEO of New York-headquartered payments processing firm Payoneer, says a single global, non-fiat currency such as Bitcoin (BTC) is unrealistic. Galit made his remarks during an interview with CNBC published on Dec. 28.Payoneer is a financial services company that provides cross-border money digital payment support for businesses and

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Bitcoin Faces Second Largest Difficulty Drop in History After Latest Adjustment

Bitcoin’s (BTC) mining difficulty saw its second largest drop in history, with a -15 percent adjustment on Monday, Dec. 3, as per data provided by major Chinese mining pool BTC.com.Bitcoin’s hashing difficulty algorithm is normally adjusted every two weeks to maintain the normal 10-minute block time. It has been adjusted

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Bitmain Faces $5 Mln Lawsuit for Allegedly Unauthorized Mining at Clients’ Expense

Crypto mining giant Bitmain is facing a class action lawsuit of $5 million that alleges it mined cryptocurrency for its own benefit on its customers’ devices. The filings were published under docket listings for the North District Court of California, Nov. 19.The lead plaintiff, Los Angeles County resident Gor Gevorkyan,

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