Market Update 12.12.18 – Karpeles May Get 10-Year Jail Term

| Publish date: 12/12/2018
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Karpeles May Get 10-Year Jail Term

Mark Karpeles, the former Chief Executive Officer of the now defunct Bitcoin exchange Mt. Gox that was based out of Japan, could end up spending up to 10 years in jail. Karpeles was the CEO of the exchange when a massive hack attack in 2014 took Mt. Gox to bankruptcy and he has repeatedly denied charges of wrongdoing.

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Prosecutors in Tokyo read out an indictment against Karpeles, claiming that the ex-CEO had stolen funds that were worth ¥340 million (~$3 million). The prosecutors have asked for Karpeles to be given a 10 year prison sentence for his embezzlement.

Read more here.

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Bitwala Offering Crypto Banking in Germany

Bitwala, the German crypto-payments startup is now offering cryptocurrency banking services in the country. The company announced on Wednesday that this service would be available through a partnership with the local fintech company SolarisBank.

Bitwala also stated that they were the first to offer such a banking solution in Europe and that since SolarisBank already had a banking license, they were going to be fully regulated. According to the announcement, users will now be able to manage BTC as well as Euro deposits from one place, safely as well as conveniently.

Read more about this story here.

SEC’s Clayton Optimistic About DLT

The Chairman of the US Securities and Exchange Commission (SEC), Jay Clayton stated this week that he was “optimistic” that distributed ledger technology (DLT) would help facilitate the formation of capital.

Clayton made this statement when testifying in front of the US Senate Committee on Banking, Housing and Urban Affairs. His speech before the Senate Committee were published on the SEC’s website on December 11. Clayton also stated that this new technology offered “promising” investment opportunities for retail as well as institutional investors.

Read more about this story here.

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Total Market Cap: Dec 12

The slide for the cryptocurrency market’s capitalization continues and it now stands at $109.73 billion, with trading volumes of $12.78 billion.

Bitcoin Price Analysis: Dec 12

Bitcoin’s price has also slipped by 0.42% since yesterday to trade at its current price of $3459.22. The digital asset’s market cap is now $60.25 billion and it is trading in volumes of $4.64 billion.

Ethereum Price Analysis: Dec 12

Ether’s price has dropped by 0.59% to trade at $90.51 per token. The virtual currency now has a market cap of $9.39 billion and is trading at volumes of $1.72 billion.

State of the Top 10 Cryptocurrencies: Dec 12

Four of the most valuable cryptocurrencies are showing marginal gains in trading so far today. These are XRP (up 0.95%), EOS (up 0.61%), TRX (up 0.13%) and LTC (up 0.03%). Of the cryptocurrencies that are trading in the red, the biggest losses are being seen by Bitcoin Cash, which has lost 3.91%, Stellar, which has dropped today by 2.36% and Bitcoin SV, down by 2.22%.

  • Bitcoin’s trading at $3459.22, falling 0.42% in the last 24 hours. Its market capitalization is $60.25 billion.
  • Ripple’s trading at $0.306170, gaining 0.95% in the last 24 hours. Its market capitalization is $12.53 billion.
  • Ethereum’s trading at $90.51, falling 0.59% in the last 24 hours. Its market capitalization is $9.39 billion.
  • Stellar’s trading at $0.114299, falling 2.36% in the last 24 hours. Its market capitalization is $2.19 billion.
  • Tether’s trading at $1.01, falling 0.02% in the last 24 hours. Its market capitalization is $1.88 billion.
  • Bitcoin Cash’s trading at $99.74, falling 3.91% in the last 24 hours. Its market capitalization is $1.74 billion.
  • EOS’s trading at $1.90, gaining 0.61% in the last 24 hours. Its market capitalization is $1.72 billion.
  • Bitcoin SV’s trading at $89.95, falling 2.22% in the last 24 hours. Its market capitalization is $1.57 billion.
  • Litecoin’s trading at $24.55, gaining 0.03% in the last 24 hours. Its market capitalization is $1.46 billion.
  • TRON’s trading at $0.013399, gaining 0.13% in the last 24 hours. Its market capitalization is $887.62 million.
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