Blockchain News

Former Mt. Gox CEO Mark Karpeles to Appeal Data Conviction @coindesk #Exchanges #News #Legal #Crime #Asia-Pacific #Law #Mt Gox #Mark Karpeles #Japan #Court Cases

Mark Karpeles, former CEO of the collapsed bitcoin exchange Mt. Gox, is reportedly to appeal his conviction on data manipulation charges....Mark Karpeles, former CEO of the collapsed bitcoin exchange Mt. Gox, is reportedly to appeal his conviction on data manipulation charges.

source https://www.tokentalk.co/Coindesk/former-mt-gox-ceo-mark-karpeles-to-appeal-data-conviction-5c9e12215e176a503c432a0f

Wells Fargo CEO Tim Sloan retires suddenly @TheBlock__ #People #banks #scandal #Tim Sloan #Wells Fargo

Wells Fargo & Co. CEO Tim Sloan announced his retirement on Thursday, Los Angeles Times reported. S...

Wells Fargo & Co. CEO Tim Sloan announced his retirement on Thursday, Los Angeles Times reported. Sloan stepped down as CEO, president and board member effective immediately, and the company’s general counsel C. Allen Parker will serve as his interim replacement until new CEO is hired. Wells Fargo is looking to hire a new CEO from outside the bank so they are not connected to the ongoing scandal.

In 2016, the bank admitted to having created multiple accounts for its clients without authorisation, amounting to millions of unauthorised checking, savings and credit card accounts. The proceedings had taken place as early as 2002, and many criticised the choice of Sloan for the CEO position as he is believed to have known about the problems before they became public knowledge.

Although the bank announced it was getting rid of the system of incentives that triggered the opening of unauthorised accounts, it was reported the bank didn’t go through with the changes and “has not fixed its culture of fear and intimidation.”

“There’s just been too much focus on me and it’s impacting our ability to move forward," said Sloan.

Sloan will receive a retirement package worth approximately $52 million.

source https://www.tokentalk.co/The Block/wells-fargo-ceo-tim-sloan-retires-suddenly-5c9e29915e176a503c432a15

Mark Karpeles Will Appeal Mt. Gox Conviction @bitcoinist #Bitcoin #Bitcoin Exchange #Companies #News #News teaser #Embezzlement Charges #Japan #Mark Karpeles #mt gox #tampering

</...

Mark Karpelès, the former CEO of the defunct Mt. Gox Bitcoin exchange says he will appeal his conviction on electronic data manipulation charges. Meanwhile, prosecutors on the case have announced their decision not to appeal Karpelès’ acquittal on embezzlement charges.

Karpelès is also a Victim of the Mt. Gox Hack

According to the Associated Press (AP), Karpelès’ lawyer, Nobuyasu Ogata believes his client’s actions during the Mt. Gox saga were tailored towards minimizing the risk exposure of the platform’s users.

Ogata’s comments come in the wake of the decision of the Tokyo District Court to convict the former Mt. Gox chief on data manipulation charges. Karpelès was, however, found not guilty of embezzlement and was handed a suspended sentence which means no jail time unless he is found guilty of another crime within the next four years.

Karpelès’ lawyer expressed delight at the latter ruling of the court, calling it “a proper decision.” However, the ex Mt. Gox CEO plans to appeal his conviction on data manipulation charges, as revealed in an email to AP, which reads in part:

During the opening of my trial in 2017, I swore to God that I am innocent of all charges. I believe appealing to the judgment is appropriate so that I can be judged again in full consideration of all the facts.

In a statement quoted by AP, Ogata maintained that Karpelès actions couldn’t be construed as illegitimate. Ogata even went further to state that Karpelès was as much a victim of the Mt. Gox hack as were the platform users and any guilty verdict was akin to scapegoating his client.

Mt. Gox Where is Our Money

Prosecution Won’t Appeal Court Ruling

In a related development, prosecutors on the case say they will not be pursuing an appeal of the court’s decision to acquit Karpelès of embezzlement charges. According to inside sources who spoke to local Japanese media outlet, The Mainichi, prosecutors have decided to abide by the court’s ruling.

At the start of proceedings, Karpelès faced the possibility of a ten-year sentence over charges of unlawfully misappropriating $3 million in customer deposits for personal use. These withdrawals allegedly went towards the acquisition of a software developer, as well as other personal expenditure.

The court ruled that the business expenditure was legitimate and that all personal spending amounted to loans from Mt. Gox which Karpelès had every intention of repaying.

Do you think Mark Karpelès got off easy? Share your thoughts with us in the comments below.

Image courtesy of Bitcoinist archives.

The post Mark Karpeles Will Appeal Mt. Gox Conviction appeared first on Bitcoinist.com.

source https://www.tokentalk.co/Bitcoinist/mark-karpeles-will-appeal-mt-gox-conviction-5c9e27395e176a503c432a14

Former Mt. Gox CEO Mark Karpeles to Appeal Conviction @coindesk #Exchanges #News #Legal #Crime #Asia-Pacific #Law #Mt Gox #Mark Karpeles #Japan #Court Cases

Facebook’s Blockchain Hiring Spree Continues With 5 New Job Postings @coindesk #News #Business News #Facebook #Social Media #employment #Hiring #Mark Zuckerberg

Social media behemoth Facebook is advertising for five more blockchain-related positions – adding to the 20 posted by the company in recent weeks....Social media behemoth Facebook is advertising for five more blockchain-related positions – adding to the 20 posted by the company in recent weeks.

source https://www.tokentalk.co/Coindesk/facebooks-blockchain-hiring-spree-continues-with-5-new-job-postings-5c9e19295e176a503c432a12

Coinbase Custody launches staking support for Tezos, MakerDAO governance to follow @coinbase #tezos #coinbase-custody #staking #makerdao #network-governance

Gemini has the highest trading fees for retail, and its competitors aren’t even close @TheBlock__ #Exchange #Exchanges #Research #trading #Gemini

Crypto exchanges have long been the big money makers in the nascent digital asset market, charging hefty fees on making a trade relative to exchanges and brokers in U.S. equities.

But one market player is charging its retail clients drama...

Crypto exchanges have long been the big money makers in the nascent digital asset market, charging hefty fees on making a trade relative to exchanges and brokers in U.S. equities.

But one market player is charging its retail clients dramatically more than the competition, as per research by The Block's Research Editor Larry Cermak. Looking at the lowest tier, which includes the vast majority of retail customers, Gemini has the least favorable combined fees for retail customers, Cermak wrote. Gemini's fees come in at a whopping 2%, or 200 basis points.

Meanwhile, Binance has the lowest combined trading fees; followed by KuCoin and bitFlyer US. The average combined fee of the lowest tier is 0.44%.

itBit is the only exchange in the lowest tier that offers a negative maker fee, which means that traders actually get a rebate by posting liquidity to the order book. The average maker fee of the lowest tier is 0.19%.

As The Block previously reported, industry insiders expect fees to compress as competition continues to heat up in the crowded industry.

“Compression will come from supply and demand. I fully expect crypto to trend toward Equity and FX commission models in the next decade,” David Mercer, CEO of crypto trading platform LMAX Digital, said. “Current retail led fee schedules are not sustainable in an institutional capital market. Investors and real money clients will expect added value for high fees not just simple matching of orders and access to liquidity," he added.

source https://www.tokentalk.co/The Block/gemini-has-the-highest-trading-fees-for-retail-and-its-competitors-arent-even-close-5c9e0fc95e176a503c432a0e