OpenBazaar reached $5 mln mark in a series A round

Bitcoin marketplace has gained support from Bitmain along already participating Union Square Ventures, BlueYard Capital, Digital Currency Group
14 March 2018   853

OpenBazaar managing company, OB1 has announced it successfully secured $5 mln of a series A round. The round was headed by the venture capital arm of OMERS pension fund - OMERS Ventures. Among the backers Andreessen Horowitz, William Mougayar, Union Square Ventures, BlueYard Capital, Digital Currency Group there was a new investor - Bitmain.

OB1 allows individuals, living anywhere, to buy and sell as part of a truly global marketplace. We are excited about the potential represented by OpenBazaar’s decentralized peer-to-peer protocol, and are thrilled about the various implementation paths that Brian and the rest of his team are pursuing.

 

Jim Orlando

Managing Partner, OMERS Ventures

The official release also explains the key points of the ongoing development: enhancements in terms of user flexibility and control over the means of the sale and purchase of products online. The 2018 plan also includes the launch of both web and mobile applications and new features like trade requests and operations with other cryptocurrencies. In early 2018 the platform already implemented Bitcoin Cash and Zcash services. This week was notable with the release of Verified Moderators program.

Our goal is to see the OpenBazaar protocol and software empower business owners and consumers alike to shift away from the corporate-controlled legacy systems and engage in ecommerce in a free, fair and independent way.

 

Brian Hoffman

CEO, OB1

Karpeles to Face Another 10 Years in Jail

Japanese enforcements agencies blamed Mt. Gox CEO in stilling $3M
12 December 2018   49

Japanese prosecutors blamed the head of the already inactive exchange Mt. Gox Mark Carpeles in embezzling 341 million yen ($ 3 million) from a bank account trading platform. The prosecutors made the corresponding statement in the Tokyo District Court, demanding 10 years of imprisonment for Karpeles, reports The Mainichi.

[Mark Karpeles] diverted company funds to such uses as investing in a software development business for personal interest" and "played a great role in totally destroying the confidence of bitcoin users.
 

Japanese prosecutors

It is noted that in September-December 2013, the head of MtGox allegedly transferred funds to personal bank accounts, and then invested in the software development business.

Carpeles is also accused of faking the data of the trading system of the exchange for the fabrication of balance sheets.

The deadline for accepting applications from affected investors as part of the civil rehabilitation of Mt. Gox has been extended until the end of December.