Karpeles Claims to be Innocent Again

Speaking before the court he stressed that he considers himself innocent of the charges brought against him
27 December 2018   695

Former head of the bankrupt Mt. Gox exchange Mark Karpeles during his closing speech at a Tokyo court called himself innocent of the events that caused the millions of clients lost and the company's collapse. It is reported by CoinDesk.

Mark faces charges of embezzling approximately 340 million yen (over $3 million) from the exchange and manipulating Mt. Gox data.

Speaking before the court, the ex-CEO apologized for not being able to save the users cryptocurrency from the hacker attack. At the same time, he stressed that he considers himself innocent of the charges brought against him in court.

The largest in its time Bitcoin Exchange Mt. Gox crashed in early 2014. This happened after the dissemination of information about the loss of 800 000 BTC, which were worth $ 480 million at that time.

Hearings on Karpeles and Mt. Gox last from June. The ex-head himself was released on bail in 2017, provided that he would not travel outside of Japan.

It is worth emphasizing that Karpeles is not charged with multimillion-dollar losses due to hacker attacks. However, prosecutors claim that he transferred the users' 340 million yen to his account between September and December 2013. According to the authorities, these funds Karpeles used to invest in a business related to software development.

In turn, the defense of Karpeles claims that the transfer of funds was carried out without violations, within the framework of the business model of Mt. Gox.

CFTC to Approve LedgerX's Deliverable BTC Futures

At the same time, another platforms such as Bakkt, ErisX and Seed CX still awaiting regulatory approval
26 June 2019   65

Cryptocurrency derivatives provider LedgerX LLC has received a license from the Authorized Derivatives Market (DCM) from the US Commodity Futures Trading Commission (CFTC), which will allow it to launch the country's first bitcoin futures.

Deliveries for deliverable futures are made in the underlying asset, not in fiat funds. Thus, LedgerX outstripped the Bakkt, ErisX and Seed CX platforms, which are still awaiting regulatory approval.

At the same time, LedgerX intends to launch the Omni platform for trading options, swaps, and bitcoin futures for retail investors, since at the moment it does not see enough interest from institutional market participants.

However, it should be added that some experts have already expressed fears that the nature of the license received will not allow LedgerX to provide margin tools to customers, and Bakkt should have such functionality.

Recall about the intentions to obtain the appropriate permission and overtake competitors LedgerX said in April.