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A bankruptcy judge has blessed a $ 5.2-billion plan by Sears’ chairman and biggest shareholder to keep the iconic business going.
The approval means roughly 425 stores and 45,000 jobs will be preserved.
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Americans aren’t just returning to the moon for the first time since 1972—they’re going to stay there. So says NASA administrator Jim Bridenstine in a bold essay that envisions astronauts exploring the moon with new technology and using the lunar surface as a base to explore Mars and other…
Northam now has ‘no choice’ but to stay in office because resigning is admitting it: Chris StirewaltFebruary 5, 2019 | dailybusinessnews
Democratic Virginia Gov. Ralph Northam has resisted the mounting calls for his resignation amid controversy surrounding his racist yearbook page and at this point, he has “no choice” but to remain in office, argued Fox News politics editor Chris Stirewalt.
It turns out you can change your fingerprints, but it sounds painful. A Spanish fugitive dodged arrest for 15 years by cutting and burning the skin of his fingertips, then replacing it with micro-implants, the Guardian reports. The man, who was not named by police, was arrested Tuesday on drug…
Venezuela defused one aspect of its ongoing political crisis by suspending a demand that U.S. diplomats leave the country.
The Thai Ministry of Finance has rejected the last cryptocurrency exchange application it had been reviewing. The exchange, which has been ordered to close down business and return customer funds, is determined to stay operational. “Shutting down is not an option for us,” its chief strategy officer reportedly said.
Coin Asset Exchange Rejected
The Thai Securities and Exchange Commission (SEC) announced on Monday the outcome of the latest cryptocurrency exchange application it had been reviewing. The country’s Ministry of Finance, under the recommendation of the SEC board, decided to reject the application of Coin Asset Co. Ltd. to operate a crypto exchange.
The company has been allowed to operate in Thailand while its application was being reviewed. However, the SEC has notified the company of its rejection and ordered it to cease operations by Jan. 21.
The regulator told the exchange’s CEO, Sivanus Yamdee, that the minimum processing time is four months should the exchange reapply for a license, the Bangkok Post reported on Wednesday. Yamdee said his company will meet with the SEC on Friday to discuss continuing crypto operations. The news outlet further quoted him as saying:
We are seeking a way to keep our digital asset exchange operating as the business cycle is moving towards a peak … We are unable to endure such as long processing time. The business cycle is on the rise and there are costs for conducting daily business. It is not easy to maintain customer loyalty.
With about 10,000 customers, the exchange’s 24-hour trading volume is approximately 91 million baht (~$ 2.87 million) at the time of this writing. In August last year, the exchange unveiled its own line of cryptocurrency automated teller machines (ATMs). It also lists Jfin coin, the country’s first initial coin offering launched by a subsidiary of a company listed on the Stock Exchange of Thailand, Jay Mart Plc.
Coin Asset’s new chief strategy officer, Arnon Saksri, was quoted by the Bangkok Post as saying:
Ultimately, we want to be regulated … It will improve investor confidence and the legitimacy of our cryptocurrency businesses, but the SEC has to find the right way to do it … Shutting down is not an option for us.
The Thai Ministry of Finance issued licenses to four cryptocurrency businesses on Jan. 8, three of which are exchanges and one is a broker-dealer.
Reason for Denial
According to the statement by the Thai SEC, the finance ministry cited “a major change to the company’s management … [which] affected the readiness of the company’s important work systems” as the reason for rejecting Coin Asset’s application. The commission detailed that “three out of four directors responsible for the [exchange’s] important work systems resigned.” The ministry elaborated:
The company failed to meet the standards on work systems. For example, the systems for custody of client assets and know your customer (KYC) were inconsistent with the standards accepted by the [Thai] Anti-Money Laundering Office.
The exchange maintains that its security system is safe, noting that it complies with ISO/IEC 27001:2013 international standard, Prachachat Turakij publication reported on Tuesday. Coin Asset added that its KYC process is linked to Thai banks, with comprehensive anti-money laundering measures.
The finance ministry has allowed the company to keep operating until Jan. 21 “to ensure proper proceeding of related matters including notification to the clients regarding asset refunds or asset transfers to other digital asset operators according to the clients’ order,” the SEC emphasized. “Regarding clients’ assets under custody, the company is requested to transfer or return the assets according to the clients’ order and report the results of the matter to the SEC.”
Following the commission’s announcement, Coin Asset informed its customers that they can continue to trade until Jan. 21 and have until Feb. 14 to withdraw funds.
Do you think the Thai SEC will let Coin Asset remain open? Let us know in the comments section below.
Images courtesy of Shutterstock and the Thai SEC.
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The post Thai Cryptocurrency Exchange Determined to Stay Open After SEC Orders Shutdown appeared first on Bitcoin News.
John Bolton, the national security adviser for President Trump, said Sunday that U.S. forces will remain in Syria until key benchmarks are met, which could mean troops could stay in the country for years, a report said.
Pete Davidson needs to take time to heal following his split from Ariana Grande, says Dr. Drew Pinsky.
The Orion Span project has plans to launch a space station that will be used as a luxury hotel. Its Aurora space station is set to launch in early 2022 and a 12-night stay on the craft will set you back $ 9.5 million. The space hotel says it has sold out its first six months of reservations and the project is accepting cryptocurrencies that include bitcoin cash (BCH) for 12-night packages.
$ 9.5 Million for a 12-Night Stay in Space
Ever since NASA landed on the moon and other governments launched citizens into space, a number of companies in the private sector have sought to send people into orbit. A project called Orion Span plans to develop a space station and use the craft as a hotel so millionaires and billionaires can spend a few nights outside the Earth’s atmosphere. Orion Span hopes it can bring individuals to the Aurora Station by the year 2022 and is charging a whopping $ 9.5 million for a 12-night stay. Individuals can reserve their stay for a downpayment of $ 80,000 and the company is accepting digital assets such as ethereum (ETH), bitcoin cash (BCH), litecoin (LTC), and bitcoin core (BTC).
Since the project launched in April, Orion Span has garnered 26 reservations from travelers all around the world. Orion Span believes accepting cryptocurrencies is only natural for a forward-thinking project that aims to bring ordinary people into space. According to the project’s creators, the hotel will have 4-6 guests in total at a time and two crew members during the 12-night stay.
“Since opening our hotel reservations in April, we’ve been met with great excitement as space enthusiasts from around the world have moved quickly to secure their reservations,” said Frank Bunger, chief executive officer and founder of Orion Span.
Orion Span CEO Sees Market Demand for Passenger Space Flight
Bunger has explained that the team created the Aurora Station project in order to give passengers the experience of a lifetime. Guest will be able to have fun in a zero gravity environment, gaze at the northern and southern Aurora, and participate in space experiments according to Orion Span’s reservation details. The hotel will have virtual amenities such as a holodeck and live streaming wireless internet access.
“Aurora Station is incredibly versatile and has multiple uses beyond serving as a hotel,” Bunger added. “We will offer full charters to space agencies who are looking to achieve human spaceflight in orbit for a fraction of the cost — and only pay for what they use.
We will support zero gravity research, as well as in space manufacturing — Our architecture is such that we can easily add capacity, enabling us to grow with market demand like a city growing skyward on Earth.
More Private Companies Are Attempting to Send Passengers Into Space
Private companies hoping to send people into space is not unusual in this day and age. A great example of this is Elon Musk’s Space X project which recently launched the Falcon 9 successfully. The Space X passenger flight already has a billionaire signed up to fly around space with his closest friends when the craft is ready. Further, this past weekend Virgin Galactic made great technological strides with the firm’s Spaceship Two entering space for the first time. “Spaceship Two is now the first crewed vehicle built for commercial service to reach space. (With due credit of course to the amazing Spaceship One prototype for paving the way),” Sir Richard Branson exclaimed in his recent blog post. Virgin Galactic will be accepting BTC for passenger space travel as well.
Projects like Orion Span, Space X, and Virgin Galactic seem financially out of reach right now, but they are still a few years away from sending paying passengers into space. “Orion Span is looking towards a bright future of making space more accessible to all,” explains the project’s website.
What do you think about the Orion Span space station hotel idea? Do you think private companies will be successful flying paying passengers into space? Let us know what you think about this subject in the comments section below.
Disclaimer: Bitcoin.com does not endorse nor support this product/service. Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com or the author is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. This editorial is for informational and educational purposes only.
Images via Shutterstock, Orion Span, Aurora Station, and Pixabay.
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The post Cryptocurrency Enthusiasts Can Pay $ 10 Million for a 12-Night Stay in Space appeared first on Bitcoin News.
Faced with three accusations that span three decades and range from “creepy behavior” to rape, Neil deGrasse Tyson offered up a lengthy defense via Facebook post on Saturday, saying “clearly I cannot continue to stay silent.” As CNN frames it, the astrophysicist “disputed or offered a different version” of each,…