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| May 23, 2018

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Trump Offers Lifeline to Sanctioned Chinese Firm ZTE

May 13, 2018 |

President Trump said he was working with Chinese President Xi Jinping to keep ZTE in business, throwing an extraordinary lifeline to the stricken Chinese telecommunication giant.
WSJ.com: US Business

Trump Makes ‘Extraordinary’ Move to Save Chinese Firm

May 13, 2018 |

President Trump surprised the business world Sunday by saying Washington would help keep the Chinese telecommunications giant ZTE alive—right after US sanctions had crippled it, the New York Times reports. “President Xi of China, and I, are working together to give massive Chinese phone company, ZTE, a way to…
Newser

Russia-Linked Firm Paid $500K to Trump Lawyer

May 9, 2018 |

Michael Cohen’s legal woes appeared to deepen Tuesday night with a bombshell release from Stormy Daniels’ attorney. According to financial records reviewed by the New York Times and NBC , a company linked to a Russian oligarch deposited around $ 500,000 into an account controlled by Essential Consultants, the shell company…
Newser

CNN

Reports: Israeli firm dug up dirt on Obama officials to try to discredit deal

May 8, 2018 |

An Israeli private intelligence firm was reportedly hired to dig up dirt on Obama administration officials who worked on the Iran nuclear deal in an effort to undermine the agreement.
CNN.com – RSS Channel – World

Toys R Us accepts $237-million bid from Toronto firm to buy its stores in Canada

April 22, 2018 |

A Toronto investment firm run by billionaire Prem Watsa has reached a $ 237-million deal to acquire the 82 Toys R Us stores that the bankrupt retailer operates in Canada — topping an offer by California toy mogul Isaac Larian.

The agreement puts Fairfax Financial Holdings Ltd. in the so-called stalking…


L.A. Times – Business

Mt Gox CEO Mark Karpeles Lands New Job — CTO for Cryptocurrency Firm

April 20, 2018 |

Mark Karpeles Lands a Job — CTO for a Firm Associated With Cryptocurrencies

The infamous former CEO of the now defunct bitcoin exchange Mt Gox, Mark Karpeles, is trying to start over with a clean slate in life. Karpeles has revealed to the media that he’s started a new C-level position as the Chief Technology Officer (CTO) for a firm called London Trust Media. The technology company invests in virtual private network companies and cryptocurrencies.

Also Read: Indian Exchange Takes Central Bank to Court Over Bank Ban

The Notorious Mark Karpeles Lands a C-Level Position With a Firm That Dabbles in Cryptocurrency Investments and Runs the Largest VPN Service Worldwide

Mark Karpeles is starting a new job, and he will be working with a company that’s into technology like virtual private networks (VPN) and cryptocurrencies. Karpeles has accepted a CTO position at a firm called London Trust Media (LTM), a company that owns VPN providers such as Private Internet Access, but has also injected funds into digital currency investments such as Purse.io, Zcash, Blockexplorer, and more. The former Mt Gox founder will now work remotely for the Denver-based firm who oversees the world’s largest VPN company alongside its recent cryptocurrency investments.

Mark Karpeles Lands a Job — CTO for a Firm Associated With Cryptocurrencies
Mark Karpeles will be the CTO for London Trust Media the firm that owns the largest VPN provider worldwide and invests in cryptocurrency investments like Purse.io and Zcash.

It seems Karpeles also lives a paranoid life, where he switches apartments in Japan every few months in fear of his safety. Karpeles also is afraid to set his bag down when being interviewed by the press in Tokyo’s Shinjuku district. Karpeles is still on trial for embezzlement charges and in Japan, there is a 99 percent conviction rate. The case could still see an outcome where the former cryptocurrency exchange operator finds himself in prison.

“After I came out, I felt like in a kind of dream, like I didn’t feel things were real — Even today I’m not sure yet,” Karpeles explains this week in Tokyo.

Mark Karpeles Lands a Job — CTO for a Firm Associated With Cryptocurrencies
Mark Karpeles is still on trial in Japan.

A Second Chance in This Fight’s Critical Hour

Karpeles also believes the administrators behind the Russian bitcoin exchange BTC-e and the accused Alexander Vinnik were behind a string of attacks that hit Mt Gox back in 2011. Alexander Vinnik had been arrested in Greece for being a suspect in a massive money laundering law enforcement sting, and allegedly Vinnik and BTC-e had connections with the missing Mt Gox funds. “What he did, Mt Gox is a victim of this, which means that all creditors are victims of this, and I am too a victim of this,” explains Karpeles in his recent interview. However, Vinnik has denied allegations of being tied to BTC-e, and the Russian has not yet been charged with any connections to the Mt Gox investigation.

Karpeles’ new C-level position for a firm that dabbles in cryptocurrency investments also follows his recent statements on a Reddit Ask-Me-Anything (AMA) about not wanting to receive the possible billion-dollar bankruptcy settlement that he could inherit. Moreover, even though Karpeles accepted a job as the CTO at London Trust Media he recently explained he wants very little to do with the cryptocurrency industry.  

“The only thing I’m touching related to cryptocurrency is how to solve this bankruptcy — Nothing more,” Karpeles states.

Bitcoin right now is, I believe, doomed.

The company London Trust Media is pleased to welcome the former Mt Gox CEO onboard as the firm’s new CTO. Andrew Lee, the co-founder, and chairman of London Trust Media explains he looks forward to helping Karpeles move forward. “I am more than willing to give a second chance to Mark in this fight’s critical hour,” Lee notes.

What do you think about Mark Karpeles working for London Trust Media and still being associated with the cryptocurrency industry? Let us know your thoughts on this story in the comments below.


Images via Pixabay, London Trust Media, AP, and Getty. 


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The post Mt Gox CEO Mark Karpeles Lands New Job — CTO for Cryptocurrency Firm appeared first on Bitcoin News.

Bitcoin News

Japanese Workers Call It Quits on a Firm Tradition: The Job for Life

April 12, 2018 |

The number of people who changed jobs has risen for seven straight years, reaching 3.11 million in 2017, as workers are lured by higher salaries and fewer hours amid a tighter employment market.
WSJ.com: What’s News Asia

Trump Firm Asked Panama President to Intervene in Dispute

April 10, 2018 |

President Trump’s company appealed directly to Panama’s president to intervene in its fight over control of a luxury hotel , even invoking a treaty between the two countries, in what ethics experts say was a blatant mingling of Trump’s business and government interests. That appeal in a letter last month from…
Newser

NY Legal Firm Launches Cryptocurrency Litigation Tracker

April 1, 2018 |

NY Legal Firm Launches Cryptocurrency Litigation Tracker

New York-based legal firm, Morrison Cohen LLP, has launched what it calls the “Moco Cryptocurrency Litigation Tracker.” The tracker seeks to provide updates and information on all active legal proceedings in the United States involving cryptocurrency companies, yielding greater transparency regarding the legal embroilments of companies operating in the virtual currency industry.

Also Read: Report Details Surge in Crypto Mining on College Campuses

Morrison Cohen Launches Cryptocurrency Litigation Tracker

NY Legal Firm Launches Cryptocurrency Litigation TrackerAs of this writing, Morrison Cohen’s Cryptocurrency Litigation Tracker displays information regarding 63 ongoing proceedings taking place in the U.S. The cases are arranged chronologically, and are sorted according to the nature of the litigation in question.

The tracker has been described as offering increased transparency regarding the legal affairs of companies operating in the cryptocurrency industry – with prospective investors able to quickly ascertain as to whether or not a company is presently the subject of legal action. The tracker provides links to relevant documentation pertaining to listed proceedings, including “rulings/orders of note[s]” relating to the cases.

Cease-and-Desist Orders Among Most Prevalent Proceedings

At present, 27 of the 63 listed cases are described as comprising ”Summary Suspensions/Cease and Desist Orders, 24 are described as “Class Action and Other Private Litigation,” and 18 cases are “Regulatory Litigation and Proceedings.

Morrison Cohen will also track the regulatory pronouncements of the Securities and Exchange Commission, Commodity Futures Trading Commission, Financial Industry Regulatory Authority, and the New York State Department of Financial Services, in addition to “other regulatory announcements” including those made by executive order.

Complaints to Consumer Watchdog on Increase

NY Legal Firm Launches Cryptocurrency Litigation TrackerEarlier this month, consumer research group, Valuepenguin, published a report claiming that the number of consumer complaints involving cryptocurrency company filed with the U.S Consumer Financial Protection Bureau increase by 669 percent following the post-December 2017 crash in the cryptocurrency markets.

40% of complaints originate from traders concerned by being unable to withdraw funds from a cryptocurrency platform, followed by complaints relating to transaction issues (20.5%), and allegations of fraud (11.7%).

Do you think that greater transparency regarding the legal affairs of crypto companies will assist prospective investors in making informed decisions


Images courtesy of Shutterstock, Morrison Cohen


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The post NY Legal Firm Launches Cryptocurrency Litigation Tracker appeared first on Bitcoin News.

Bitcoin News

Under Kushner, Firm Filed False NYC Housing Paperwork

March 19, 2018 |

When the Kushner Cos. bought three apartment buildings in a gentrifying neighborhood of Queens in 2015, most of the tenants were protected by special rules that prevent developers from pushing them out, raising rents and turning a tidy profit. But that’s exactly what the company then run by Jared Kushner…
Newser