The CEO of Mt. Gox is facing ten-years in Japan for embezzlement charges, and ASIC mining rigs are struggling to make a profit.
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CEO of Defunct Mt. Gox Exchanges Faces Ten Year Jail Sentence Over Embezzlement
Mark Karpeles, the former CEO of now-defunct Japanese Bitcoin exchange Mt. Gox, could be facing a ten-year jail sentence over charges of embezzlement. Karpeles, who headed the exchange during the major hack in 2014 that resulted in the loss of 850,000 BTC ($2.87 billion at press time), has denied any wrongdoing. Prosecutors in a Tokyo court this week have claimed that Karpeles had stolen around $3 million worth of funds from the exchange, in a case not connected to the hack.
Only Two ASIC Mining Rigs Remain Profitable in Current Crypto Markets
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