Today, Bithumb won in its court battle against a hacked customer, Bank of America filed for a blockchain ATM patent, and Anthony Pompliano predicted bitcoin to fall below $3,000. BitMEX CEO Arthur Hayes also predicted an initial coin offering (ICO) rebound over the next 18 months, and Vitalik Buterin called Bitcoin SV a dumpster fire.
Catch up on today’s headlines!
Court Win For Bithumb Exchange In Case Of Crypto Investor’s $355K Hack
According to recent reports, Bithumb customer Ahn Park lost $355,000 in a hack on his account.
Park transferred 400 million Korean won to his Bithumb account back in November. Only a few hours after the transfer, someone allegedly sold his won for Ethereum (ETH) and then transferred the ETH out of the exchange.
Park tried to sue Bitsy Korea.com (parent company of Bithumb) claiming the exchange had inadequate security.
However, Korean courts sided with Bithumb, explaining that Bithumb was different than traditional financial entities in their obligations and guidelines.
Bank Of America Files For Blockchain ‘ATM As A Service’ Patent
Bank of America recently filed for a patent with the U.S. Patent and Trademark Office (USPTO).
According to the patent, the product is a “cash handling device” employing blockchain to “accelerate transaction speed and/or facilitate other types of transactions in addition to ATM transactions like cash withdrawals and deposits, such as gift registry transactions.”
This new technology enables individuals to use these ATMs regardless of what institution they are with.
Bitcoin’s Price Will Go Below $3,000, Anthony Pompliano Tells Mainstream Media
Anthony Pompliano thinks bitcoin has not bottomed yet and is headed below $3,000. Pompliano is the founder of Morgan Creek Digital Assets and is a notable influencer in the crypto space.
During an interview with CNBC, Pompliano commented on bitcoin’s price future. “Short term, actually I think that we’ve got lower to go,” he explained.
Pompliano also explained his opinion that falling FAANG (Facebook, Apple, Amazon, Netflix, and Google) stock prices were not associated with bitcoin’s falling price this year.
BitMEX CEO: Ethereum ‘Will Quickly Test $200’ When ICO Market Returns
In an interview with CoinTelegraph Japan, BitMEX CEO Arthur Hayes claimed initial coin offerings (ICOs) would return over the next 18 months, and that low Ethereum (ETH) prices were currently correlated with a dead ICO market.
“Once there are new issues, then Ether will rebound aggressively. When the ICO market returns, Ether will quickly test $200. The timing of the ICO rebirth is 12 to 18 months out,” Hayes said.
Hayes also mentioned the future prevalence of stablecoins and security tokens in 2019. “While their fundamental raison d’etre is flawed, investors in this time of pain will latch onto anything they believe will be their ticket to easy riches.”
Vitalik Buterin: Bitcoin is ‘Genuinely Cool Tech,’ Bitcoin SV Is ‘Pure Dumpster Fire’
Ethereum co-founder Vitalik Buterin recently discussed Proof-of-Work (PoW) versus Proof-of-Stake (PoS) on Twitter with crypto influencer Tuur Demeester.
A spectating Twitter member chimed in on the conversation, referencing Bitcoin SV and their scaling solution while also bashing the Lightning Network.
Positing a different view, Buterin stated, “I have my disagreements with the bitcoin roadmap, PoW, etc but they’re trying to do something that’s genuinely cool tech. BSV is a pure dumpster fire.”