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Secretary of State Mike Pompeo insisted that North Korea is keeping open the possibility of continued talks after Pyongyang’s deputy foreign minister said they might walk from negotiations, criticizing the top US diplomat and national security adviser John Bolton for creating “an atmosphere of hostility.”
CNN.com – RSS Channel – World
Theresa May will have woken up Wednesday morning hoping she has won back something she lost last night: Her voice.
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Investigators are combing through debris at the site where Ethiopian Airlines Flight 302 crashed on Sunday, attempting to make sense of a disaster that claimed 157 lives and left thousands more in grief and shock.
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North Korea is still using a uranium-enrichment facility at the heart of last week’s summit between President Trump and North Korean leader Kim Jong Un, the United Nations atomic agency said.
WSJ.com: What’s News Asia
Tensions on the border between India and Pakistan last week pushed the two nuclear-powered South Asian adversaries closer to conflict than at any point in the past two decades.
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Mark Karpeles, the chief executive of the now defunct bitcoin exchange Mt. Gox, has been denied a motion to stay in a class action lawsuit in the U.S. The Northern District of Illinois lawsuit originally filed by Anthony Motto and Gregory Greene accuses Karpeles of criminal conversion and fraud.
Mark Karpeles Faces Legal Proceedings in the State of Illinois
The former executive of Mt. Gox Mark Karpeles is facing a very busy month as he is expecting to hear the verdict from his embezzlement trial in Japan on March 15. The verdict is not Karpeles’ only legal issue, however, as he’s also being sued for negligence, fraud, and criminal conversion in the state of Illinois. The class allegations against Karpeles involve two former Mt. Gox customers, Gregory Greene and Anthony Motto, who believe the former exchange operator is liable for their losses. The plaintiffs’ lawsuit says the bank that Mt. Gox used, Mizuho Bank, Ltd., continued to accept deposits even though customers were having withdrawal issues. Motto and Greene’s attorneys believe Karpeles continued to allow deposits and conduct business within the state of Illinois through the exchange’s parent company Tibanne.
Last August, Karpeles and his lawyer filed for a motion to dismiss the case in Illinois and explained that Illinois had no jurisdiction over him because he was a French native living in Tokyo. After the dismissal was denied by Judge Gary Feinerman, Karpeles’ legal team then filed for a motion to stay in order to suspend the case until the proceedings in Japan had finished. The filed motion of stay asserts that “likelihood that plaintiffs and others will obtain a full recovery in Mt. Gox’s Japanese legal proceedings is high.”
The motion of stay added:
In light of the status of the Japanese proceedings, this case should be stayed in order to conserve judicial resources and to preclude unnecessary legal expenses.
Motion of Stay Denied — Class Allegations Hearing Continues May 1st
Karpeles believes that the Japanese proceedings should take precedence against the class allegations based in Illinois. Following the motion of stay, judge Feinerman ruled in favor of the plaintiffs and denied Karpeles’ filing. Now the former exchange operator must deal with the hearing on May 1, but will meet his March 15 verdict first. Furthermore, the Mt. Gox trustee Nobuaki Kobayashi will also be making a decision shortly in regard to the claims filed for civil rehabilitation.
In the legal proceedings Karpeles faces in Illinois, the defense counsel detailed that the claim that Karpeles knew exactly what Mizuho Bank was doing was unwarranted. Further, the defense said the idea that Karpeles conducted business in the state of Illinois is an incorrect assumption. “The alleged wrongful conduct took place in Japan, not in Illinois,” the defense noted. Karpeles’ upcoming verdict in Japan is in a country with a 99 percent conviction rate, but even if he is not convicted, his legal troubles are far from over.
What do you think about Mark Karpeles being sued in Illinois and the class allegations against him? Let us know what you think about this subject in the comments section below.
Image credits: Shutterstock, Pixabay, Mizuho Bank logo, and Mt. Gox.
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Cryptocurrency markets are once again riding a long period of consolidation as the last seven days has failed to show any meaningful moves. During our last markets update, digital asset values spiked considerably, gaining billions in one hour on Feb. 8. But a week later cryptocurrencies have offset those gains and most markets have been following a narrow range for more than a week.
Crypto Gains Neutralize and Follow a Falling Narrow Range
Digital currency prices have been consolidating again into what looks like a falling wedge after seeing a significant jump in value eight days ago. The overall market capitalization of all 2,000+ cryptocurrencies is around $ 120 billion. Global trade volume is still decent, even though it’s a touch lighter than last week at $ 18.8 billion over the last 24 hours. Currently, bitcoin core (BTC) is priced at $ 3,635 with a market valuation of about $ 63.7 billion at the time of writing. BTC is down around 0.81% over the last week but has managed to gain 0.3% during this morning’s early trading sessions.
The second highest market capitalization belongs to ethereum (ETH) as each token is trading for $ 123. Ethereum markets have managed to knock ripple (XRP) from the second position as XRP is swapping for $ 0.30 this Saturday. Litecoin (LTC) captures the fourth position with each coin trading for $ 43 as markets have gained 3.5% today. Lastly, eos (EOS) prices are up 1.5% as each eos is sitting at $ 2.83 per coin.
Bitcoin Cash (BCH) Market Action
Bitcoin cash (BCH) prices have been coasting along at $ 122 per coin this weekend and markets are up 0.44%. BCH has an overall market valuation of around $ 2.1 billion and about $ 192 million traded over the last 24 hours. The top five exchanges trading the most bitcoin cash today are Lbank, Hitbtc, Fcoin, Binance, and Upbit. The top trading pair with BCH this weekend is ETH by 42.2% over the last day. This is followed by USDT (30.1%), BTC (17.4%), USD (4.2%) and KRW (3.7%). Over the last few weeks, larger concentrations of KRW/BCH pairs have been increasing. This weekend BCH is the ninth most traded cryptocurrency below dash and just above qtum.
BCH/USD Technical Indicators
Looking at the 4-hour chart on Kraken and Bittrex shows the momentum from BCH bulls has neutralized. Over the last seven days, heavier resistance was able to build up and will make things more difficult for northbound movements. The two Simple Moving Average (SMA) trendlines show the long-term 200 SMA is still above the short-term 100 SMA. This solidifies the fact that the path toward the least resistance is still the downside. Although as noted in prior market updates, the two moving averages look to be converging in the near future unless some big changes await.
Moving on to the Relative Strength Index (RSI), Stochastic, and MACd indicators we can see things meandering back and forth. RSI and the Stochastic oscillator levels are coasting along at 48.4 on the 4-hour chart, indicating traders seem to be cautious at the moment. MACd shows signals that BCH bears are getting exhausted and a reversed MACd divergence suggests the bottom may be in and market trends seem to be on the verge of change. Order books indicate some thick resistance between the current vantage point and prices above $ 150. The bears will struggle between today’s spot prices and numerous areas of support until $ 95.
Traders Still Speculating on the Next Bull Run
Last week’s run-up in prices had given some cryptocurrency traders a new breath of optimism but others still think it was just another dead cat bounce. Many digital asset traders are selecting positions and just hoping they found the right seats during this game of musical chairs. One trader who goes by the name “Financial Survivalism” on Twitter thinks BTC prices might drop considerably before a big reversal in his “Hyperwave” price analysis. The trader suggests that BTC could fall to $ 1,165 before a large jump to $ 10,000.
Furthermore, Zhu Fa, the cofounder of Poolin, a China-based mining operation, believes the price of BTC will skyrocket 10–20x higher than its prior all-time high of $ 20,000. The Poolin cofounder thinks that BTC will be priced between $ 70,000 or 5 million yuan ($ 738,000). Other traders also believe the next big cryptocurrency bull run will be the last huge run-up and the crypto economy’s subsequent years of life will see much slower growth.
Where do you see the price of BCH, BTC, and other coins heading from here? Let us know in the comments below.
Disclaimer: Price articles and markets updates are intended for informational purposes only and should not to be considered as trading advice. Neither Bitcoin.com nor the author is responsible for any losses or gains, as the ultimate decision to conduct a trade is made by the reader. Always remember that only those in possession of the private keys are in control of the “money.”
Images via Shutterstock, Trading View, Bitstamp, Coinlib.io, and Satoshi Pulse.
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The post Markets Update: Crypto Traders Still Uncertain After a Week of Consolidation appeared first on Bitcoin News.
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