Swissquote runs Bitcoin Certificate

Swissquote, leading provider of online financial services, announced today that it has launched actively managed Bitcoin certificate
23 November 2017   871

Bitcoin certificate allows its investors to participate in the cryptocurrency boom through a traditional financial vehicle traded on the SIX Swiss Exchange.

With the certificate, the average investor gets a regulated and transparent gateway to Bitcoin, without needing a special Bitcoin wallet, managing public and private keys or having to fear theft or hacks. We expect that investors will be willing to accept slightly lower returns in exchange for better protection against downside risks.

 

Peter Rosenstreich

Head of Market Strategy, Swissquote

Customers invest in Bitcoins against the Euro or the US Dollar through their accounts. Minimum investment is 1’000 US Dollars, which is also in the initial price of the certificate. Management fees are 1.5% per year plus transaction costs. There is no minimum holding period.

For this project, Swissquote partnered with Luxembourg-based Bitstamp, one of the biggest cryptocurrency exchanges.

Karpeles to Face Another 10 Years in Jail

Japanese enforcements agencies blamed Mt. Gox CEO in stilling $3M
12 December 2018   41

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.