⛏️ [Analysis] What can the first blockchain antitrust case teach us about the crypto-economy? - Konstantinos Stylianou

Crypto service firm United American Corp alleges Bitmain, along with a host of investors and exchanges like Kraken, actively colluded and constrained the Bitcoin Cash ($BCH) market. Currently filed in the Southern District Court of Florida, UnitedCorp is seeking the crypto industry's first anti-trust case.

UnitedCorp provides numerous services based on Bitcoin Cash, which underwent a hardfork in Nov. 2018. UnitedCorp contends that Bitcoin ABC supporters actively colluded against Bitcoin SV ($BSV) to the detriment of Bitcoin Cash's reputation, and therefore its business. Under Sherman anti-trust legislation, UnitedCorp has to prove that it was both directly injured and the first to be so.

As the University of Leeds' Konstantinos Stylianou argues, UnitedCorps allegations are likely to fail, but that doesn't diminish its importance for the industry. UnitedCorp's argument falters along many lines: proving collusion among Bitcoin ABC interests, identifying its position in the market value chain, and if the fork actually injured UnitedCorp or if it was part of wider market conditions. Still, the Florida court has the opportunity to redefine anti-trust legislation in the digital age by how it answers. With other crypto cases on the line, like California's Coinbase case, today might not be the last time you hear about UnitedCorp v. Bitmain.