Image Image Image Image Image Image Image Image Image Image Image Image

| February 22, 2019

Scroll to top


Former Archives -

Former Diplomat’s Daughter Is ‘Snatched Off the Streets’

February 21, 2019 |

“Those responsible for this will pay.” So says a seething Italian official amid reports that North Korea has forcibly repatriated the daughter of a diplomat who may have defected to the West, Reuters reports. Talk of the possible defection surfaced after Jo Song Gil, North Korea’s acting ambassador to Italy,…

Vatican defrocks former US cardinal McCarrick over sex abuse

February 16, 2019 |

The Vatican says Pope Francis has defrocked former U.S. Cardinal Theodore McCarrick after Vatican officials found him guilty of soliciting for sex while hearing Confession.
FOX News

Former Apple Lawyer Charged With Insider Trading

February 14, 2019 |

The former Apple executive who enforced the company’s insider-trading policies was charged criminally with violating those rules by allegedly dumping over $ 10 million in stock before the company announced it missed a metric for iPhone sales. US Business

Former top Apple lawyer is accused of insider trading by the SEC

February 13, 2019 |

A former top Apple Inc. lawyer who was in charge of Apple’s insider-trading policy has been accused by the U.S. Securities and Exchange Commission of avoiding $ 382,000 in losses by trading on inside information.

Gene Daniel Levoff, who until last year was Apple’s senior director of corporate law,…

L.A. Times – Business


Former Costa Rican president and Nobel Peace Prize winner accused of sexual offenses

February 12, 2019 |

Óscar Arias, former Costa Rican president and winner of the Nobel Peace Prize, has been accused of inappropriate sexual conduct by two women. – RSS Channel – Regions – Americas

Former Virginia Gov. McAuliffe calls on Northam to resign amid yearbook photo scandal

February 3, 2019 |

Former Virginia Gov. Terry McAuliffe said Sunday that the man currently holding that seat, Gov. Ralph Northam, will resign soon amid the mounting scandal over a photo on his medical school yearbook page that showed what appeared to be a man in blackface and a second person cloaked in Ku Klux Klan garb.
FOX News


Former al-Shabaab fighter recognizes familiar face in Nairobi hotel attack

January 23, 2019 |

He chose to join a terrorist group, fought for it, was blooded in atrocities, escaped and repented. Now he lives in well-founded fear for his life. – RSS Channel – World

Former Mt Gox CEO Reflects on Incarceration in Japan While Facing More Prison Time

January 22, 2019 |

Former Mt Gox CEO Reflects on Incarceration in Japan, While Facing More Prison Time

The infamous Mark Karpeles, former CEO of the now defunct bitcoin exchange Mt Gox, appeared in an exposé interview on Monday and publicly discussed how he tolerated Japanese jail. Karpeles explained how he’s been accused of financial misconduct in a land that has a 99 percent conviction rate and he wouldn’t wish his experience on anyone.

Also Read: Peer-to-Peer Trading Platform Bitquick Implements Bitcoin Cash Support

Mark Karpeles Speaks of Japan’s “Hostage Justice” in Latest Interview

This week, Mark Karpeles spoke in an interview about his experience in a Japanese jail after being charged by the Tokyo court system for embezzlement tethered to the Mt Gox operations. When Karpeles was the chief executive of the Tokyo exchange Mt Gox, the trading platform lost approximately 850,000 bitcoins that belonged to customers. At the time, the loss represented nearly 6 percent of the bitcoins in circulation. Roughly 200,000 coins were eventually “found” and Karpeles and the company filed for bankruptcy on Feb. 28, 2014.

Former Mt Gox CEO Reflects on Incarceration in Japan, While Facing More Prison Time
Mark Karpeles tells CNN he is a victim of Japan’s “hostage justice” system.

A year later, Karpeles was arrested for allegedly changing important data within the Mt Gox computer system and was later arrested again and charged with embezzling $ 3 million from the company. Karpeles has maintained his innocence the entire time, but did time in jail and was released on bail as long as he doesn’t leave the country. Speaking in his recent interview, the former exchange operator gives his account of some of the injustice he allegedly faced during his jail time and interrogation. Karpeles says he wouldn’t wish the experience on his worst enemy and even “humanity’s worst enemy.”

Former Mt Gox CEO Reflects on Incarceration in Japan, While Facing More Prison Time
Karpeles must not leave Japan and he faces a verdict this March.

“There’s a very big feeling of powerlessness — Whatever you do, there’s nothing you can do,” says Karpeles during his CNN interview. Karpeles took detailed notes of his 12 months in Japanese jail and explained that Japanese police interrogated him for 50 days straight, up to 8 hours a day without his lawyer. Soon Karpeles expects to hear a verdict on his charges in a country where the conviction rate is 99 percent.

Karpeles adds:

The more you try and deny being guilty the harsher it gets.

Former Mt Gox CEO Reflects on Incarceration in Japan, While Facing More Prison Time
Karpeles says he has comprehensive notes on how he was treated in a Japanese prison. The notebook in the photo allegedly is his notes on the entire jail experience and interrogation.

Bitcoiners Weigh in on the Japanese Conviction Rate

The Karpeles interview on CNN appeals to people who believe the Japanese conviction rate is draconian and the broadcast also discusses the former Nissan chairman Carlos Ghosn. Like Karpeles, the Nissan executive is being charged with the same crimes, including a charge called “breach of trust.” Further, Ghosn’s interrogation is also being scrutinized and he has already been rejected one bail request due to being a “flight risk.” Japanese prosecutors say the justice system is fair. “We would never prolong the detention to harass suspects and we believe [suspects] are treated fairly.” 

Attorney Shuji Yamaguchi from the legal firm Okabe and Yamaguchi emphasized that the legal system in Japan works and the country has one of the lowest crime rates in the world. “Our system supports our society and still crime goes down every year — So I think our system works very well,” Yamaguchi explained in the video. 

Former Mt Gox CEO Reflects on Incarceration in Japan, While Facing More Prison Time
Karpeles current residency in Tokyo.

When the interview was posted to cryptocurrency Reddit forums, lots of people discussed how Karpeles looked like he gained some weight. His weight was also a topic of discussion when the former exchange operator was released on bail in July 2016. However, some people did discuss the Japanese justice system and how it applies to one of the most notorious individuals in cryptocurrency.

Former Mt Gox CEO Reflects on Incarceration in Japan, While Facing More Prison Time
A traditional cell for a single person living inside the Tokyo Detention Center. 

One Reddit user on the Mt Gox insolvency forum admitted there was “two wrongs” involved with the story. The individual explained that the Japanese justice system was wrong but it doesn’t excuse what Karpeles did. “I feel bad for Mark having to go through this, but I still think Mark is guilty guilty guilty,” explained the response to Karpeles interview. The final verdict for the Karpeles embezzlement trial will be held in March.

Image credits: Shutterstock, Tokyo Detention Center Kyodo/via Reuters, CNN, and Pixabay

Want to create your own secure cold storage paper wallet? Check our tools section.

The post Former Mt Gox CEO Reflects on Incarceration in Japan While Facing More Prison Time appeared first on Bitcoin News.

Bitcoin News

In Tribune Publishing shakeup, CEO and former Times executives leave

January 18, 2019 |

Tribune Publishing, after months of turmoil, has shaken up its leadership in a dramatic overhaul that further distances the company’s management from its former chairman, Michael Ferro.

The Chicago-based company announced late Thursday that Chief Executive Officer Justin Dearborn was stepping down…

L.A. Times – Business

Tron Can’t Handle Bittorrent’s Transaction Volume, Former Exec Claims

January 12, 2019 |

Tron Can’t Handle Bittorrent’s Transaction Volume, Former Exec Claims

Simon Morris, who was Bittorrent’s chief strategy officer until July 2018, has expressed his doubts about the capability of the Tron blockchain to process the vast number of transactions that the popular file-sharing platform will demand. Morris believes there’s more marketing than technology behind the launch of the new crypto token.

Also read: Iran Labels Telegram’s Coin a Threat to National Security

BTT Transactions Will Melt Tron’s Blockchain

Bittorrent is planning to become one of the first projects to offer its coin on Binance Launchpad, a platform developed by the leading cryptocurrency exchange to facilitate fundraising. The upcoming launch of the Bittorrent Token (BTT), a digital coin based on the Tron protocol, has delighted Tron investors who saw the price of TRX jump from around $ 0.02 to over $ 0.03 in the week following the announcement. It has since dropped to almost its previous level.

Tron Can’t Handle Bittorrent’s Transaction Volume, Former Exec Claims

Not everyone is excited about the new crypto, however, as some skeptics doubt the peer-to-peer file-sharing platform needs the tokenization in the first place. After all, it has been operating for years without a dedicated digital coin. Others, like Simon Morris, think a token is a good idea but note that Tron won’t be able to handle the enormous transaction volume that’s needed to tokenize the Bittorrent network.

At Bittorrent, Morris was responsible for exploring the potential benefits of the implementation of blockchain technologies and cryptocurrency. In an interview with Breaker Magazine, he shared that when he was the company’s chief strategy officer (CSO), his team realized that tokenization could potentially make the platform significantly faster, for example, though automated auctions to prioritize download queues. The former executive believes Tron is trying to implement a similar concept but he thinks there’s “no way” the capacity of its network would be sufficient.

The transactional capacity we were looking at was needing hundreds of transactions a second just to get started. It’s simply not there. You hear all the bullshit out there, oh, this does 10,000 transactions a second. It’s all crap. We were going to melt Tron. Literally destroy it.

Marketing Machine on Thin Veneer of Technology

Simon Morris expects Tron to proceed with the plan to tokenize Bittorrent, regardless of the outcome, seemingly doing what his team was trying to achieve. “But what’s very clear is that they’re going to say they’re going in the same direction, come what may, because that’s what Tron does … it’s basically a marketing machine layered on a very thin veneer of technology,” he said.

The former Bittorrent executive who left the company after its acquisition admits that Tron’s CEO Justin Sun is very strong at marketing: “He has a very nice personality from a marketing point of view. He doesn’t have a technical bone in his body. He wouldn’t understand, technically, anything,” said Bittorrent’s former CSO.

Tron Can’t Handle Bittorrent’s Transaction Volume, Former Exec Claims

That’s why Morris believes that the new BTT coin will be issued on a different platform. “I suspect that what they’re really going to do is they’ll do it on some central server, they’ll wave their hands and say, ‘Oh, it’s a Lightning Network for Tron,’ or something, and pretend it’s Tron-based, but it’s not really Tron-based,” he elaborated.

In the interview, Simon Morris talks about the accusations from last year that Tron’s developers released a plagiarized whitepaper and used code without proper attribution. He also claims Tron’s chief executive Justin Sun dismissed his suggestion to admit that’s what happened before moving on.

What are you expectations about the tokenization of Bittorrent? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

Express yourself freely at’s user forums. We don’t censor on political grounds. Check

The post Tron Can’t Handle Bittorrent’s Transaction Volume, Former Exec Claims appeared first on Bitcoin News.

Bitcoin News