Friday, March 15, 2019

Karpeles Sentenced / Cboe Stops Futures / Blockchain Bugs / Cocoa

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1. A Japanese court sentenced former Mt. Gox CEO Mark Karpeles to a suspended jail sentence for falsifying data after his exchange lost 850,000 bitcoins. The court sentenced Karpeles to two-and-a-half years with four years suspended if he remains on good behavior. Karpeles spent a year behind bars after his arrest in 2015 where prosecutors interrogated him on the disappearance of the coins. Karpeles maintained his innocence throughout the court proceeding. While this is the final court appearance for Karpeles, Mt. Gox's case remains open. The company still controls substantial cryptocurrency assets which are in the process of being returned to those defrauded. –THE NEW YORK TIMES

Karpeles sentenced, will avoid jail
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2. Cboe Global Markets plans to not add a new bitcoin futures market in March as it reviews how it approaches the space. The exchange did say that currently listed bitcoin futures contracts will remain available for trading. The Chicago Mercantile Exchange, which launched a bitcoin futures product about the same time as Cboe, has seen its volume dwarf that of Cboe. Both of the Chicago exchanges settle futures with cash. This is in contrast to new competitors Bakkt and ErisX, which plan to offer physically settled futures contracts where bitcoin is delivered to the buyer. –COINDESK

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3. Security researchers found more than 40 bugs on blockchain platforms over the past 30 days, although none of the vulnerabilities appear to be serious. Thirteen companies that use blockchain including Coinbase, Tezos, and Brave, submitted 43 vulnerability reports between February 13 and March 13 to Hacker One. Security researchers received $23,675 for finding the bugs, a relatively low amount that shows the bugs were not overly serious. Of all the firms, Unikrn, an esports gambling platform, received the most vulnerability reports. –THE NEXT WEB

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4. The cocoa industry (yes, that's a thing) could greatly benefit from blockchain, especially in how the technology can add transparency to the supply chain. Tom Daly, president of augmented reality company skignz, told the Cocoa Merchants Association America Conference that the industry has a bad data problem. Daly said that the cocoa industry lacks transparency when it comes to traceability and other sustainable issues with different supplies offering wildly different data sets. As a result, consumers may turn away from products that can not offer this information. –CONFECTIONERY NEWS

Cocoa industry could benefit from blockchain
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5. Dieter Shirly, the co-founder of CryptoKitties, said on a SXSW panel that pet owners on his platform own the intellectual property to their cat, meaning "even if our company goes away, your kitties are immortal." –PITCHBOOK

6. Gemini founders Cameron and Tyler Winklevoss argued that bitcoin has the potential to kill gold. –FOX BUSINESS

7. Fundstrat co-founder and noted bull Tom Lee targeted August for the next bitcoin price jump, citing a positive outlook in the coin's 200-day moving average. –COIN TELEGRAPH

8. Tamara Evdokimova at Slate tries to give the upcoming Kurt Russell movie "Crypto" the benefit of the doubt even though the trailer exaggerates – and misrepresents – how cryptocurrencies work. –SLATE

9. The price of Cardano rose 6 percent after the Cardano Foundation was named one of the founding members of the International Association for Trusted Blockchain Application (INATBA). –AMB CRYPTO

10. Here is a handy guide if you find yourself in the United Arab Emirates and want to buy bitcoin. –BENZINGA

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Written and curated by David Stegon. He has been a reporter for 15 years, the past 10 focused on technology. Follow him @davidstegon.

Editing team: Kim Lyons (Pittsburgh-based journalist and managing editor at Inside); Susmita Baral (senior editor at Inside, who runs the biggest mac and cheese account on Instagram); and David Stegon (senior editor at Inside, whose reporting experience includes cryptocurrency and technology).

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