{"id":30054,"date":"2013-06-03T19:48:17","date_gmt":"2013-06-03T19:48:17","guid":{"rendered":"http:\/\/ci027cfe77900d2697"},"modified":"2013-06-03T19:48:17","modified_gmt":"2013-06-03T19:48:17","slug":"month-in-review-may-1370288897","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/culture\/month-in-review-may-1370288897","title":{"rendered":"Month In Review: May"},"content":{"rendered":"
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The Bitcoin community took a rather heavy beating this month. Our leading exchange, Mt. Gox, was sued by its former partner Coinlab<\/a>, lost three<\/a> of its deposit<\/a> and withdrawal<\/a> partners, and the company is under federal investigation<\/a> in the US. Another digital payment network, Liberty Reserve, was shut down<\/a> by federal investigators, and the government specifically mentioned the service\u2019s anonymity<\/a> as a major reason behind the shutdown. However, judging by the price the community has proven to be surprisingly resilient. Bitcoin dropped 7.5 during the month, but the entire drop and more took place during the initial days of the month following the Coinlab suit. Since then, it recovered from a low of $79 and now stands at $117. A major piece of positive news driving the comeback was a series of investments from Silicon Valley, and A hugely successful Bitcoin conference<\/a>, with over a thousand people attending, bolstered the community\u2019s spirits and sent the world a clear message: Bitcoin is here to stay.<\/p>\n

For those interested specifically in the Bitcoin conference, you can find our full collection of articles on the topic here.<\/p>\n

The Regulators Are Moving In<\/h3>\n