Mt. Gox Used Client Money for Operations and Extravagances, Allege Staff
Mt. Gox allegedly spent money from its clients' deposits on operating expenses including extravagances as early as two years before it went bankrupt, according to new claims by employees. In a series of exclusive interviews given to Reuters in Tokyo, the small group of anonymous current and former Mt. Gox employees claim to have approached CEO Mark Karpeles about their concerns in early 2012, but their requests to view the company's financial records were rebuffed. Mt. Gox spent money, said Reuters' report, on rent in the same high-status Tokyo office building as Hulu and Google, office....
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Amagi Metals. Precious metals dealer Amagi Metals has announced a partnership with bitcoin payroll processor Bitwage that will allow Amagi to pay the company's entire staff in bitcoin. Employees still have the option to receive a portion of their salaries in fiat, but all employees will receive at least a portion of their salary in bitcoin. Also read: Amagi Metals to Ditch USD for Bitcoin by 2017. Amagi Metals to Pay Entire Staff in Bitcoin. Amagi says the move to Bitwage was not just about helping their employees have more payroll options. CEO Stephen Macaskill-who will receive $40,000 of....
Matt Burgoyne is an associate at Canadian legal firm McLeod Law. He is involved with Canadian and international counsel in the developing area of virtual currency law, specifically including bitcoin currency. One of the most frustrating things I encounter when being retained by a new client or working with an existing client operating in the bitcoin space is that without exception, I have the unfortunate task of advising them that as it stands now in Canada, the chances of them obtaining a regular commercial services based bank account are 0%. "Canada is an attractive environment for....
San Francisco-based bitcoin mining startup HashFast Technologies has announced that it laid off 50% of its staff due to problems with its evolving business model. The announcement, made via the company's blog, comes amid growing concern regarding the future of the bitcoing mining chip and product manufacturer. HashFast is currently embroiled in two federal fraud lawsuits and five arbitration cases that allege the company is guilty of breach of contract and fraud related to issues stemming from production delays. HashFast also announced that it has brought in new management. The company....