Top 5 “Cryptopia” Tweets

Welcome to the HODLCast BITBONICS! Today is April 8, 2020 and today’s twitter search was about Cryptopia.

Here are the top 5 tweets!

Number 5, from @duganist

Cryptopia sounds like something you wouldn’t care about but it’s an interesting precedent in general (the implications go beyond exchange bankruptcy and into the general legal risk of coin-secured lending, you want courts to enforce your upside in the events of lender failure).

@duganist re-tweeted @LordCatoshi

Assets on Cryptopia deemed as property of account holders by the judge

Number 4, from @d_hohnholt

Looks like some #cryptopia users will be happy. “Cryptopia Users Win Victory in Court Case Over Crypto Assets Worth Over $100M”

Number 3, from @johnmorganFL

#Cryptopia Users Will Finally Get Their #Cryptocurrency Back. “The Court has taken the side of Cryptopia users”

Number 2, from @Cryptopia_NZ

Today, 8 April 2020, Justice Gendall delivered his judgement finding firstly, cryptocurrencies are “property” within the definition outlined in s2 of the Companies Act 1993 and secondly, that account holders’ cryptocurrency were held on multiple trusts, separated by individual crypto-asset type. This means that the cryptocurrencies are beneficially owned by the account holders and are not assets of the company.

Number 1, from @CourtsofNZ

Liquidation of Cryptopia Ltd, a New Zealand-based cryptocurrency exchange. High Court finds cryptocurrency is “property” under New Zealand law and the company held cryptocurrencies on trust for its accountholders