The Saga of Mt. Gox’s CEO: Mark Karpeles on Trial
Once a shining star in the crypto universe, Mark Karpeles, the former CEO of the infamous Mt. Gox exchange, is now in quite a pickle. Facing a decade behind bars, Karpeles stands accused of embezzling about $3 million from his own exchange, unrelated to that catastrophic hack in 2014 that dissolved $2.87 billion’s worth of Bitcoin into thin air. Karpeles maintains his innocence, insisting he didn’t pilfer a dime. Still, that courtroom drama is one for the ages – a facepalm moment for the crypto community.
Mining Mayhem: Only Two Survivors in Profit Pool
If you thought being a crypto miner was all gold and glory, think again. Recent data reveals that during this week’s market crash, only two ASIC miners were managing to scrape together any profits. Less than a couple of dollars, mind you! It’s a harsh reality in a world where even machines seem to be down on their luck. As of now, both machines, released in 2018, made profits of $0.58 and $0.21. Not exactly enough to retire off, but hey, small victories!
Calgary’s Digital Journey: The Birth of the Calgary Dollar
In a twist of local economic innovation, the Canadian city of Calgary has introduced its very own digital currency, aptly named the Calgary Dollar. Citizens can now support local shops and nonprofits through this app-based currency. Want to earn a few Calgary Dollars? Just invite your pals to join or offer up goods at a price in this freshly-minted digital dough. It’s a fun experiment that could lift the community while possibly keeping the grumpy accountants at bay.
ICOs on the SEC’s Radar: A Positive Outlook
In what can only be described as a surprising endorsement, SEC Chairman Jay Clayton has spotlighted Initial Coin Offerings (ICOs) as viable fundraising tools. While he cautions that there are “a number of concerns,” Clayton believes ICOs can legitimately raise capital if they play by the regulatory rules. Let’s just hope these ICOs don’t end up as another crypto horror story waiting to happen!
Samsung’s Cold Wallet Rumors: Ice, Ice, Not So Nice?
Samsung has had to weather the storm of rumors about the release of a crypto cold wallet for its Galaxy S10 smartphone. Spoiler: they say it’s not happening, thanks to some trademark filings that raised eyebrows. But who knows? While it’s not on the cards right now, imagine the daily grind of carrying around your phone, which doubles as a bank vault – talk about a multi-tasker!
Remembering Tim May: The Pioneer We Lost
This week, the tech world mourned the passing of Timothy C. May, co-founder of the Cypherpunks movement and author of “The Crypto Anarchist Manifesto.” He left behind a legacy that foresaw the very regulations we grapple with today. Tim’s poignant thoughts on privacy, currency, and the digital age ring as true today as they did in 1992. Our community, and the broader tech landscape are decidedly poorer without his insights and innovations.
The Current Crypto Market Landscape: Winners and Losers
As it stands, Bitcoin (BTC) hovers around $3,275, with Ripple (XRP) and Ethereum (ETH) trying valiantly to hold their ground at $2.38 and $86.29, respectively. The total market cap is around $104 billion. In the weekly arena, altcoin triumphs are noted, with Bolenum (BLN), Vestoria (VSTR), and SURETY (SURE) leading the pack. Conversely, the unfortunate trio consisting of BitF (BITF), KWH Coin (KWH), and DACH Coin (DACH) continues to witness losses.
