Tag: Cryptocurrency Trading

Categories
News

Malta Is The Crypto Trading Leader

We all know that there are all sorts of different perspectives that different countries have with regards to cryptocurrency. There are some governments that are embracing cryptocurrency exchanges and blockchain startups with open arms, and others that are cracking down hard on the entire sector.

However, Malta has now become the country with the largest crypto trading volume in the world. While Malta has often been touted as “Blockchain Island” – its new position as the leader in trading volume has been subtle and unexpected by many.

About The Numbers

For those wondering just how much Malta has traded in 2018, the answer might surprise you. Specifically, the country traded $40 billion in cryptocurrency during that year. To put this in perspective, it traded over twice the volume of the United States, which is the largest economy in the world currently.

Following behind Malta was China, which processed $32.5 billion in cryptocurrency transactions. This achievement is even more remarkable when one considers that New York and London are considered traditional finance hubs of the world. Malta is clearly bucking that trend.

Embracing Blockchain

Of course, there is a reason for this. The government of Malta is extremely pro-blockchain, to the point where the prime minister of Malta, Joseph Muscat, told the United Nations that crypto was the “future of money”. Since the government is so welcoming to blockchain business, two of the largest exchanges in the world, Binance and Okex, have signed agreements with the Maltese Stock Exchange (MSX) to launch security token platforms, as well.

Changpeng Zhao has praised Malta for embracing blockchain and cryptocurrency, calling the local regulators “very welcoming and reasonable”. He also stated in early 2018 that “Malta will be the next hotbed for innovative blockchain companies, and a centre of the blockchain ecosystem in Europe.” It is also believed that the entrepreneur is also planning on creating the world’s first decentralized bank in the country, as well.

Categories
News

Bitcoin (BTC) Trader And Friend Booked For Murder

A Bitcoin trader and his friend have reportedly murdered a young woman in the Philippines, according to various news reports. The trader in question is 21 year-old Bitcoin dealer Troy Woody Jr. and his friend, 24-year old Mir Islam. Both are currently being held in the country on a murder charge.

The crime occurred in the Philippines, and all three individuals involved apparently flew into the country for a short holiday that quickly turned into a longer stay. There is now apparently video evidence related to the crime, as well.

Crime Details

The murder victim is one Tomi Michelle Masters, the girlfriend of Troy Woody Jr. Her body was recovered from a Philippines River (The Pasig River). The two suspects reportedly strangled and dumped Masters’ naked body into the river, but apparently, each suspect is blaming the other individual for the actual murder. Masters worked at a medical marijuana facility in California.

Masters was apparently supposed to fly home with Woody Jr.  on December 17, but never made her flight, according to her father, Shawn Masters. He was then notified by the U.S. Embassy in Manila that his daughter had been murdered.

Additional Context

The authorities have stated that both individuals have admitted that they were involved in the disposal of the body, although they are still investigating who actually murdered Masters. For context, Mir Islam is not only Troy Woody Jr.’s friend, but apparently his business partner, as well. Supposedly, a massive argument occurred when Masters stated that she wanted to travel home to Indiana.

Superintendent Igmedio Bernaldez offered this statement regarding the case: “We have yet to establish the motive. The three were here on vacation. If you ask the boyfriend, he will point to his friend as the killer. But if you ask the other suspect, he will say it was his friend who killed her. They are being questioned and the home they were staying at is being searched for evidence.”

 

Categories
News

Blythe Masters Steps Down As CEO Of Digital Asset

In 2014, Bythe Masters made headlines when she stepped down from a comfy position as a J.P. Morgan Chase executive and decided to lead the blockchain startup Digital Asset. It appears as though her journey at the startup has come to an abrupt end, however, as she announced that she was stepping down after over three years in the CEO role at Digital Asset, and apparently doing so for personal reasons.

About The Announcement

Many people believed that Digital Asset would help institutional money flow into the markets. First and foremost, the startup is backed by some of the world’s largest banks, and one of the main goals of the startup was, and is, to allow for more confidential trades. The company describes itself as a “leading provider of digital ledger technology.”

In a press release, the company announced that Masters would step down and that AG Gandaghar would move into the CEO role. Gandaghar joined the company’s Board of Directors earlier this year, in April. It should also be noted that Masters will still remain a shareholder, board member, and strategic advisor.

Moving Forward

In a statement, Masters said: “Digital Asset has evolved from an ambitious idea to a truly global software engineering firm. We are fortunate to have a deep bench of accomplished executives on the management team and Board, including AG, who have the requisite experience to take the company to the next level. Having come to know and trust AG as an an advisor and Board member, I am convinced that he brings what’s needed to guide the company through its next phase.”

Gandaghar has worked at a variety of reputable technology companies, including Google, Microsoft, Amazon, and Uber. Michael Bodson, another member of the Digital Asset board, stated: “We are excited to have a world-renowned technologist like [Gangadhar] to help take the company forward.”

 

Categories
News

Prosecutors Want 10-Year Jail Sentence For Former Mt. Gox CEO

There are few events that have shaped the current cryptocurrency markets as the infamous Mt. Gox hack. For those who are unaware, Mt. Gox was once the world’s largest cryptocurrency exchange, established in 2010. At its height, it was handling 70% of all the global transactions involving Bitcoin. Unfortunately, over $400 million in Bitcoin was hacked from the exchange in 2014.

Although some of the funds were recovered, the events led to a massive drop in confidence when it came to cryptocurrency investors and traders, who now had to wonder whether their funds would be stolen due to hackers.

Embezzlement Allegations

The cryptocurrency markets have since recovered, but the Mt. Gox debacle is still relevant to this day. Specifically, the former CEO of the exchange, Mark Karpeles, 33, was arrested in Japan in 2015 for embezzling funds from the exchange. It appears as though prosecutors are requesting a 10-year jail term for Karpeles.

Prosecutors accused Karpeles of diverting “company funds for such uses as investing in a software development business for personal interest”, and allege that he “played a great role in totally destroying the confidence of Bitcoin users.”

Karpeles Claims Innocence

Karpeles has tried to claim that this was a “temporary loan”, but prosecutors have pushed back against this narrative, stating: “There was no documentation of loans and there was no intention of paying back.” Previously, in 2017, France-born Karpeles has maintained his innocence, even reading a statement in Japanese that stated: “I swear to God I am not guilty.”

Karpeles is not only accused of embezzling customer funds ($3 milion worth) and transferring it into his account during late 2013, but prosecutors also maintain that he manipulated data on Mt. Gox’s trading system to cover his tracks, as well.