Feds Seize Assets From Mt. Gox's Dwolla Acount, Accuse It Of Violating Money Transfer Regulations
Bitcoin exchange service Mt. Gox is experiencing some issues with U.S. authorities. The Department of Homeland Security issued a seizure warrant to Dwolla for the money in Mt. Gox’s Dwolla account. Mt. Gox users can’t use Dwolla as a funding option anymore even though it was one of the most popular options. The Japanese startup failed to register in the U.S. as a money transmitting company — president and CEO Mark Karpeles now faces up to five years in prison. Dwolla had no choice but to proceed with the request. IDG News obtained a copy of the warrant through the U.S. Immigration and Customs Enforcement (ICE), the investigation team of the Department of Homeland Security. In order to accept funds in dollars, Mt. Gox opened a Wells Fargo business account for Mutum Sigillum LLC (Mt. Gox’s American subsidiary). The company had to complete a document that states whether it provides money services or not. The warrant reads: “That document was completed on May 20, 2011, and identified ...
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BootstrapAccelerator Asia Wants To Bring Promising Southeast Asia Startups To Silicon Valley
Though Southeast Asia is one of the world’s fastest growing economies and benefits from a youthful, tech-savvy population, the region’s startup ecosystem is still in its infancy and many founders lack resources. The freshly launched BootstrapAccelerator Asia seeks to address that gap. Founded by San Francisco-based seed and venture capital fund BootstrapLabs and Malaysia’s MAD Incubator, BootstrapAccelerator Asia is currently seeking startups that have the potential for global expansion. The year-long program will focus on “early-stage capital efficient startups that leverage the speed of Internet distribution and the scalability of cloud infrastructure,” bringing promising candidates to Silicon Valley. Foreign startups that BootstrapLabs has previously relocated to Silicon Valley include Prezi, Witsbits, AudioDraft and Zerply, which have raised a combined $25 million in funding. MAD (Make A Difference) Incubator is the largest private incubator in Malaysia, with the goal of helping ...
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Facebook And The Sudden Wake Up About The API Economy
What a two weeks it’s been. Something happened that has been simmering for a while. The API market exploded. Intel bought Mashery for more than $180 million and CA acquired Layer 7. 3Scale received a new $4.5 million round of funding from Javelin Ventures. Programmable Web acquired Mulesoft. And then Facebook jumped in and bought Parse. The acquisitions and funding point to a maturing market that is reflected in the ubiquity of APIs across the application landscape. It’s not a new market by any means. The space is filled with companies that have leveraged the API build out that has happened over the past several years. Instead this is an inflection point. There are more than 30,000 APIs, according to Programmable Web, the leading API directory and blog. Javelin Ventures Managing Director Noah Doyle said to me in an interview that analysts see the API market growing five to ten times over the next five years. With that scaling in number of APIs comes a virtuous circle for the developers ...
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Unanimous: Provo Utah Council Approves Google Fiber
symbolset writes "In a unanimous vote the Provo Municipal Council has agreed to a plan to sell the city's troubled iProvo fiber Internet network to Google. Although this makes Provo, Utah the third city to embrace Google's ambitious gigabit fiber to the home plan the existing network will allow the residents of Provo to see faster installation than the others. Google had previously announced plans to proceed immediately on approval." They city handed the network over for $1, but there are hidden costs, from the article: "Provo taxpayers will still have to pay off a $39 million bond that the city originally issued to build the network. With interest, taxpayers still have to pay $3.3 million in bond payments per year for the next 12 years. ... The city will have to pay about $722,000 for equipment in order to continue using the gigabit service for government operations ... The city also has to pay about $500,000 to a civil engineering firm to determine exactly where the fiber optic cables ...
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Yahoo Is Going To Stop Email Service In China
An anonymous reader writes with news that Yahoo will be ending their email service in China on August 13th. A support post on the Yahoo China site tells users how to migrate their account to a different email service called Aliyun. If they do so, their data can be migrated and they will continue to receive emails to their Yahoo address until the end of 2014. From the article: "The US Internet giant Yahoo! has come under criticism in the past over its business in China, with executives apologising in 2007 for providing evidence that Chinese authorities used to convict government critics. The company said it was legally obliged to divulge information about its users to the Chinese government but that it was unaware it would be used to convict dissidents. The end of the service will affect millions of users, the paper quoted Alibaba public relations official Zhang Jianhua as saying, though he did not have a total figure."
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