News of the week

Mt. Gox Bitcoin Exchange’s Karpeles Avoids Jail Time in Japan

Mark Karpeles, who headed Mt. Gox, a Tokyo-based bitcoin exchange that went bankrupt after a massive hacking, was found guilty Friday of manipulating electronic data but cleared of embezzlement and breach of trust charges. The Tokyo District Court handed down a prison sentence of 2 and a half year, but suspended for four years, meaning Karpeles will not have to serve jail time. Karpeles, a 33-year-old Frenchman, was arrested in August 2015, and suspected of taking money from his clients.

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IBM and France’s Commercial Court Clerks Signed Nationwide Blockchain Deal

Court clerks across France will soon be recording changes in companies’ legal status on a Hyperledger blockchain built by IBM. The National Council of Clerks (NCC) project has already undergone tests involving four court clerks and IT providers, and the system is planned to go into full-scale production in the first half of 2019. The goal is to allow clerks in commercial courts who maintain the country’s Register of Commerce and Companies do their job better and faster.

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Galaxy Trader: We’ll Never Bitcoin at $3,000 Again

Despite being down 80 percent from its all-time high, a fairly large number of investors are still cautious and shorting bitcoin in a low price range. According to a trader known to the cryptocurrency industry as “Galaxy,” bitcoin at $3,000 may be a rare opportunity that does not come again in the future. According to Galaxy, since its inception, bitcoin has established a trend of reaching a new all-time high, enduring a steep decline in price, initiating an accumulation, and recovering to a new high. Based on that trend, the trader said that investors will likely never see Bitcoin at $3,000 once again after April and the dominant cryptocurrency is en route to recovering in 1 to 2 months.

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CBOE Exchange Puts Bitcoin Futures Listing on Hold

The unit of Cboe Global Markets said that it would not add a new bitcoin futures market for March, citing a need to review how it approaches the space. “CFE is not adding a Cboe Bitcoin (USD) (“XBT”) futures contract for trading in March 2019,” CFE is assessing its approach with respect to how it plans to continue to offer digital asset derivatives for trading. While it considers its next steps, CFE does not currently intend to list additional XBT futures contracts for trading.” However, Cboe said currently listed bitcoin futures contracts will remain available for trading. That means the last contracts listed, XBTM19, will expire in June.

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Thai Stock Exchange Building Digital Assets Platform for 2020 Launch

The Stock Exchange of Thailand has confirmed it’s building a digital assets platform that it expects to go live next year. Saying it is “ready for digital tranformation,” the SET announced that it will work “closely and collectively” with all stakeholders in the country’s capital market to build a new ecosystem that would support digital assets. The institution added that the move is aimed to make investors’ experiences faster and more convenient, as well as “opening up new investment opportunities.”

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Bitcoin ‘Permabear’ Says BTC Heading to $150,000

A crypto analyst who was labeled a “permabear” last year while accurately predicting Bitcoin’s price drop from $10,000 to $3,000 says Bitcoin is now poised to begin a slow rise to $150,000. “In my view, this next bull market is likely to rally to around $150,000, by approximately August of 2023. I realize that is an audaciously specific date, and many people will scoff at it, but that’s what I have calculated and I have great reason to believe that my calculations will continue to prove to be accurate.”

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